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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Revolution Bars Group Plc | LSE:RBG | London | Ordinary Share | GB00BVDPPV41 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.05 | -3.33% | 1.45 | 1.40 | 1.50 | 1.50 | 1.45 | 1.50 | 235,569 | 12:34:09 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Drinking Places (alcoholic) | 152.55M | -22.23M | -0.0966 | -0.16 | 3.45M |
TIDMRBG
RNS Number : 8067E
Revolution Bars Group
22 October 2018
22 October 2018
Revolution Bars Group plc
("Revolution" or the "Company")
Matters relating to previous distributions
On 24 March 2016, Inventive Service Company Limited ("ISC"), Revolution's indirect wholly-owned subsidiary, paid a dividend of GBP4,000,000 to Inventive Guaranteeco Limited ("IGC"), Revolution's direct wholly-owned subsidiary and ISC's sole shareholder. In addition, on 24 November 2017, ISC paid a dividend of GBP1,600,000 to IGC.
The board of directors of Revolution has now become aware that, due to certain prior year accounting adjustments, (i) GBP685,000 of the dividend paid by ISC to IGC on 24 March 2016 and (ii) GBP559,000 of the dividend paid by ISC to IGC on 24 November 2017 (together, the "Relevant Distributions") was inadvertently paid in contravention of Part 23 of the Companies Act 2006.
To regularise this situation, ISC has today agreed to waive and release any and all claims which it has or may have against James Del Guidice, Sean Martin Curran and Mike Foster (being the directors of ISC at the time that the Relevant Distributions were paid) and has entered into a deed poll to that effect.
As James Del Guidice and Mike Foster are related parties of Revolution, the entry into the deed poll constitutes a smaller related party transaction for the purposes of the UK Financial Conduct Authority's Listing Rule 11.1.10R and this announcement is made in accordance with Listing Rule 11.1.10R(2)(c).
Enquiries:
Revolution Keith Edelman Mike Foster +44 (0) 161 330 3876 Numis Stuart Ord Oliver Cardigan Mark Lander +44 (0) 20 7260 1000
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
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(END) Dow Jones Newswires
October 22, 2018 11:15 ET (15:15 GMT)
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