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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Theworks.co.uk Plc | LSE:WRKS | London | Ordinary Share | GB00BF5HBF20 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 26.55 | 25.60 | 27.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Misc General Mdse Stores | 280.1M | 5.27M | 0.0843 | 3.17 | 16.72M |
TIDMWRKS
RNS Number : 4639K
TheWorks.co.uk PLC
28 August 2019
28 August 2019
TheWorks.co.uk plc (the "Company")
Smaller Related Party Transaction - Ratification and Release of Interim Dividend
At the Company's 2019 AGM held today, shareholders passed a special resolution to ratify the appropriation of profits to the payment of the Company's first interim dividend paid on 14 March 2019 (the "Interim Dividend"), waive any rights of the Company against both past and present shareholders of the Company who received the Interim Dividend, waive any rights of the Company against past and present Directors of the Company in respect of the Interim Dividend and approve the Company entering into deeds of release in favour of such shareholders (the "Shareholders' Deed of Release") and Directors (the "Directors' Deed of Release"). Further information relating to the technical infringement of the Companies Act 2006 which required the Company to seek shareholder approval for these steps is set out in the 2019 Notice of AGM available on the Company's website (www.theworksplc.co.uk).
Following shareholder approval, the Company confirms that it has now executed the Shareholders' Deed of Release and Directors' Deed of Release (together the "Deeds of Release"). As each of the Directors of the Company is deemed to be a 'related party' of the Company under the Listing Rules, the entry by the Company into the Deeds of Release is deemed to be a 'smaller related party transaction' under the Listing Rules and is therefore subject to the requirements of LR11.1.10. The amount of the liability released for each Director and their 'associates' (as defined for the purposes of the Listing Rules) is capped under the Directors' Deed of Release at an amount equal to 4.9% of the Company's market capitalisation as at today's date (including the amount of any claim the Company may have against such person(s) in their capacity both (as the case may be) as a Director and as a shareholder).
Enquiries: TheWorks.co.uk plc via Teneo Kevin Keaney, CEO Gavin Peck, CFO Teneo Ben Foster Haya Herbert-Burns +44 20 7420 3190
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
MSCCKFDQPBKDNFB
(END) Dow Jones Newswires
August 28, 2019 11:48 ET (15:48 GMT)
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