Wey Education PLC Capital Reconstruction (3130L)

TIDMWEY

RNS Number : 3130L

Wey Education PLC

21 December 2018

21 December 2018

WEY EDUCATION PLC

("Wey Education" or the "Company")

Capital Reconstruction

Wey Education (AIM: WEY), the online educational services group, is pleased to announce that it has received approval from the High Court for the reconstruction of the Company's share capital (the "Capital Reconstruction"). The principal purpose of the Capital Reconstruction, (which was approved by shareholders at a General Meeting on 24 September 2018) is to create a positive profit and loss reserve which will, at the Board's discretion, allow dividends to be paid at such future date may be appropriate. .

Following the registration of the Court order at Companies House, the Capital Reconstruction took effect on 21 December 2018. The Company has given certain undertakings to the Court in relation to the protection of the Company's creditors on the date which the Capital Reconstruction took effect.

Enquiries:

Wey Education Plc

   Barrie Whipp (Interim Chairman)                               [phone] 
   Barry Nichols-Grey (Executive Director - Finance)   [phone] 

WH Ireland Limited

(Nominated Advisor and Broker)

   Mike Coe/ Chris Savidge (Corporate Finance)          [phone] 

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December 21, 2018 09:03 ET (14:03 GMT)