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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Octagonal Plc | LSE:OCT | London | Ordinary Share | GB00BWWCHQ23 | ORD 0.05P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMOCT
RNS Number : 0270V
Octagonal PLC
31 October 2017
For immediate release
31 October 2017
Octagonal plc
("Octagonal" or the "Company")
Confirmation of Reduction of Capital (the "Capital Reduction") and declaration of potential maiden dividend
Octagonal Plc (LSE: OCT), the AIM traded financial services group, is pleased to announce that the Court hearing to confirm and approve the Capital Reduction has been held and the Capital Reduction approved. The Reduction of Capital is now effective, the result of which is the cancellation of all issued deferred shares in the capital of the Company and the cancellation of the Company's share premium account. The effect of these actions has been to eliminate the deficit on distributable reserves enabling dividends to be considered.
Further details of the Capital Reduction were sent to Shareholders in the Notice of AGM published on 4 September 2017.
As a result of the Capital Reduction, there will be no change to the number of Ordinary Shares in issue, and the rights attaching to the Ordinary Shares will remain the same.
The Company, on the basis of the above, is now in a position to pay a dividend and accordingly declares a dividend of 0.1pence per share, which it expects to be distributed before the end of this year and subject to the declaration of the Record, Ex-date and payment date. A further announcement confirming the dates of such will be made in due course.
John Gunn, Chairman and CEO comments:
"We are pleased to make this announcement in relation to the capital reorganisation and the declaration of our first dividend. The Octagonal board intend to have a progressive dividend policy taking into consideration earnings and future capital requirement of the Group's businesses."
This announcement contains inside information.
For further information please visit www.octagonalplc.com or contact:
+44 (0) 20 Octagonal Plc 7048 9400 John Gunn, CEO Beaumont Cornish Limited (Nominated Adviser and Broker) +44 (0) 20 James Biddle / Roland Cornish 7628 3396 www.beaumontcornish.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCDGBDGIDXBGRG
(END) Dow Jones Newswires
October 31, 2017 03:00 ET (07:00 GMT)
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