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Share Name Share Symbol Market Type Share ISIN Share Description
Electra Private Equity Plc LSE:ELTA London Ordinary Share GB0003085445 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.25 -0.14% 180.00 175.00 185.00 7,200 16:35:01
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 1.0 -6.0 -15.5 - 72

Electra Private Equity PLC Confirmation of Reduction of Capital

27/08/2020 11:37am

UK Regulatory (RNS & others)


Electra Private Equity (LSE:ELTA)
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TIDMELTA

RNS Number : 3519X

Electra Private Equity PLC

27 August 2020

Electra Private Equity PLC

Confirmation of Reduction of Capital

27 August 2020

Electra Private Equity PLC (the " Company ") announces that further to its announcements on 21 May 2020 and 19 June 2020, the High Court of Justice in England and Wales (the " Court ") sanctioned the cancellation of the share premium account and the capital redemption reserve of the Company on 21 July 2020 (the " Reduction of Capital ").

Details of the Reduction of Capital were set out in the circular to shareholders dated 21 May 2020 and the Reduction of Capital was approved by shareholders at a general meeting of the Company held on 19 June 2020.

The order of the Court has been registered with the Registrar of Companies and, accordingly, the Reduction of Capital has now become effective.

The purpose of the Reduction of Capital is primarily to create distributable reserves that will give the Company the flexibility to pursue its stated investment objective and continue its managed wind down, including enabling it to make future purchases of its own shares and/or to make future distributions of profits in cash or in specie to shareholders. The proposed Reduction of Capital itself will not involve any distribution or repayment of capital or share premium or capital redemption reserve by the Company and will not reduce the underlying net assets of the Company.

-ENDS-

For further information please visit www.electraequity.com or contact:

Gavin Manson

Chief Financial and Operating Officer

Electra Private Equity PLC

17 Old Park Lane

London

W1K 1QT

Tel: 44 (20) 3874 8300

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END

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(END) Dow Jones Newswires

August 27, 2020 06:37 ET (10:37 GMT)

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