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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Marlowe Plc | LSE:MRL | London | Ordinary Share | GB00BD8SLV43 | ORD 50P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
2.00 | 0.40% | 508.00 | 506.00 | 510.00 | 508.00 | 508.00 | 508.00 | 401 | 08:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Investors, Nec | 465.7M | -3.8M | -0.0393 | -129.26 | 491.62M |
TIDMMRL
RNS Number : 4005G
Marlowe PLC
18 July 2023
18 July 2023
Marlowe plc
Capital Reduction Effective
At a general meeting of Marlowe plc (the "Company") held on 19 June 2023 (the "General Meeting"), a resolution was passed by shareholders to cancel the balance standing to the credit of the share premium account of the Company, in doing so increasing the distributable reserves of the Company by GBP 384,921,004.09 (the "Capital Reduction") .
To be effective, the Capital Reduction required Court approval and the Company is pleased to announce that Court approval has now been obtained and the Capital Reduction is now effective. This follows the Court order approving the reduction of capital which was registered with Companies House on 17 July 2023.
Whilst the Board and management remain focussed on the continued execution of the Company's stated growth strategy, the Capital Reduction now removes a potential restriction on the Company's ability to either make dividend payments and other distributions or to purchase its own shares in the future. 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.
For further information:
Marlowe plc Alex Dacre, Chief Executive www.marloweplc.com Adam Councell, Chief Financial Tel: +44 (0) 203 813 8498 Officer Benjamin Tucker, Investor Relations IR@marloweplc.com Manager Cenkos Securities plc (Nominated Adviser and Joint Broker) Ben Jeynes Tel: +44 (0)20 7397 8900 George Lawson Berenberg (Joint Broker) Ben Wright Tel: +44 (0)20 3207 7800 Mark Whitmore Stifel (Joint Broker) Matthew Blawat Tel: +44 (0)20 7710 7688 Francis North FTI Consulting Nick Hasell Tel: +44 (0)20 3727 1340 Alex Le May
About Marlowe plc
Marlowe is a leader in business-critical services and software which assure regulatory compliance. The company was formed to create sustainable shareholder value through the acquisition and development of businesses that provide regulated safety and compliance services and software. It is focused on compliance software, eLearning, health & safety, employment law & HR compliance, fire safety & security, water & air hygiene and occupational health services - all of which are vital to the wellbeing of its customers operations and are invariably governed by regulation. Marlowe currently provides software to over 1 million users and services to over 25% of Britain's commercial premises. The Group provides customers with a single outsourced, nationwide, provider of a range of regulated compliance and safety solutions. Our customers can be found in office complexes, high streets & leisure facilities, manufacturing plants and industrial estates, and include thousands of SMEs, local authorities, facilities management providers, multi-site NHS trusts and FTSE 100 companies.
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(END) Dow Jones Newswires
July 18, 2023 07:15 ET (11:15 GMT)
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