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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Future Plc | LSE:FUTR | London | Ordinary Share | GB00BYZN9041 | ORD 15P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-20.50 | -3.21% | 618.00 | 615.00 | 616.50 | 643.50 | 613.50 | 637.00 | 235,822 | 16:35:18 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Miscellaneous Publishing | 788.9M | 113.4M | 0.9782 | 6.29 | 712.97M |
TIDMFUTR
RNS Number : 3285P
Future PLC
29 May 2018
TUESDAY 29 MAY 2018
Future plc ("Future" or the "Company")
Posting of Circular and Notice of General Meeting for Proposed Capital Reduction
Future announces that it is today posting a circular (the "Circular") to shareholders in connection with a proposed capital reduction of the Company's share premium account, including notice of a general meeting to be held at 2.00 p.m. on 14 June 2018 for the purpose of approving the capital reduction.
The Company is proposing to undertake a reduction of capital approved by the Court to create additional distributable reserves. The proposal achieves this by cancelling the balance standing to the credit of the share premium account of the Company. The Capital Reduction, if approved by Shareholders and confirmed by the Court, is expected to increase the distributable reserves of the Company by approximately GBP47,385,898.
If the Resolution is passed at the General Meeting, the Company intends to apply to the Court for confirmation of the Capital Reduction. The Capital Reduction will only become effective if the Resolution is passed by Shareholders at the General Meeting, the Court confirms the Capital Reduction and the order of the Court confirming the Capital Reduction is delivered to, and registered by, the Registrar of Companies in England and Wales.
The Capital Reduction is a means of avoiding a potential restriction on the Company's ability to make dividend payments and other distributions in the future. Shareholders should note that the Capital Reduction itself will not involve any distribution or repayment of share premium by the Company and will not reduce the net assets of the Company. The Capital Reduction will not change the number of Ordinary Shares in issue or the paid up share capital of the Company or change any rights attaching to the Ordinary Shares.
The circular and notice of general meeting will shortly be made available on the Company's website, www.futureplc.com.
EXPECTED TIMETABLE OF PRINCIPAL EVENTS
Publication of the Circular 29 May 2018 ---------------------------------- -------------------- Latest time and date for receipt 2.00 p.m. on 12 June of Form of Proxy for the General 2018 Meeting ---------------------------------- -------------------- General Meeting 2.00 p.m. on 14 June 2018 ---------------------------------- --------------------
Notes:
1. The expected dates for the confirmation of the Capital Reduction by the Court and the Capital Reduction becoming effective will be announced following the General Meeting.
2. The timetable assumes that there is no adjournment of the General Meeting. If there is an adjournment, all subsequent dates are likely to be later than those shown.
3. References to times are to London times unless otherwise stated.
4. Unless otherwise defined, capitalised terms used in this announcement have the meanings given to them in the Circular.
29 May 2018 END Enquiries: Future 01225 442244 Zillah Byng-Thorne, Chief Executive Officer Penny Ladkin-Brand, Chief Financial Officer 020 7457 Instinctif Partners 2077 Kay Larsen/Chris Birt
Notes to editors
Future is a global platform business for specialist media with diversified revenue streams.
The Media division is high-growth with three complementary revenue streams: eCommerce, events and digital advertising. It operates in a number of sectors including technology, games, music and home interest markets and has a number of leading brands including TechRadar, PC Gamer, GamesRadar+, The Photography Show, Homebuilding & Renovating Show, Generate, MusicRadar and the Golden Joysticks.
The Magazine division focuses on publishing specialist content, with 86 publications and over 440 bookazines published per year, totalling global circulation of over one million. The Magazine portfolio spans technology, games and entertainment, music, creative and photography, field sports, knowledge, home interest, sport and outdoor leisure. Its market-leading titles include Classic Rock, Total Film, How It Works, Digital Camera, Homebuilding & Renovating and All About History.
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
CIREAPSSAALPEEF
(END) Dow Jones Newswires
May 29, 2018 02:01 ET (06:01 GMT)
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