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CRV Craven House Capital Plc

0.20
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Craven House Capital Plc LSE:CRV London Ordinary Share GB00BD4FQ360 ORD USD1.00
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.20 0.15 0.25 0.20 0.176 0.20 0.00 08:00:08
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Finance Services -5.26M -5.52M -1.4274 -0.14 772.72k

Craven House Capital PLC Reduction in Capital Update (2298K)

12/12/2018 8:00am

UK Regulatory


Craven House Capital (LSE:CRV)
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TIDMCRV

RNS Number : 2298K

Craven House Capital PLC

12 December 2018

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Craven House Capital plc

("Craven House" or the "Company")

Reduction in Capital Update

The Company provides the following update in relation to the previously announced plans to apply to the High Court to undertake a Reduction in Capital:

The Court application has taken longer than originally anticipated and is now at an advanced stage, however the Directors have determined that it would be beneficial to utilise the current process to cancel the 155,958,824 deferred shares, made up of 77,979,412 deferred shares of GBP0.09 each in the capital of the Company with the 77,979,412 deferred shares of GBP0.009 each in the capital of the Company ("Deferred Shares").

These Deferred Shares are of negligible value to deferred shareholders and, under the articles of association of the Company, can be cancelled at any time for no consideration, via a Reduction in Capital.

A resolution proposing the cancellation of the Deferred Shares will be put to shareholders at a General Meeting to be held immediately after the upcoming Annual General Meeting. To ensure clarity is provided to the Court, the special resolutions previously passed on 24 August 2018 will be repeated in order for them to be voted on simultaneously.

The Company will therefore today post a Circular and Notice of General Meeting ("GM") to shareholders of the Company. The GM will be held at 10.45am on 4 January 2019, at 60 Cannon St, London, EC4N 6JP.

In the event that the resolutions proposed at the GM are approved by shareholders, the Court application will be updated and it is anticipated that the Capital Reduction will be approved by the Court by the end of January 2019.

 
 
 

Ends

For further information please contact:

 
 Craven House Capital Plc            Tel: 0203 286 8130 
  Mark Pajak 
  www.Cravenhousecapital.com 
 SI Capital                          Tel: 01483 413500 
  Broker 
  Nick Emerson 
  www.sicapital.co.uk 
 
   SPARK Advisory Partners Limited     Tel: 0203 368 3550 
   Nominated Adviser 
   Matt Davis/Mark Brady 
   www.Sparkadvisorypartners.com 
 

About Craven House Capital:

The Company's Investing Policy is to invest in or acquire a portfolio of companies, partnerships, joint ventures, businesses or other assets globally in any geographic jurisdiction. The company will invest in both developed and developing markets providing long term patient capital and is often involved in special situations, restructuring, expansion and turn around investments in crisis and transitioning economies.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

UPDEAXAAFSXPFEF

(END) Dow Jones Newswires

December 12, 2018 03:00 ET (08:00 GMT)

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