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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Worthington Group Plc | LSE:WRN | London | Ordinary Share | GB00B01YQ796 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 87.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS No 9060e WORTHINGTON GROUP PLC 2 September 1999 Extraordinary General Meeting - 29 September 1999 Worthington Group plc announce that on 2 September 1999, a circular was despatched to shareholders convening an Extraordinary General Meeting on Wednesday 29 September 1999 at 9am for the purpose of approving a change in the Company's Articles of Association. The Company's Articles of Association contain a restriction on borrowings based on a multiple of 2.5 "Adjusted Capital and Resources". Significant write-downs have been made to the carrying value of the Group's assets, as detailed in the Chairman's Statement in the Company's Report and Accounts for the year ended 31 March 1999. These adjustments, together with the effect of other provisions have had the effect of reducing the Group's net assets to such a level that the Group's borrowings exceed the maximum level permitted under the Articles. To regularise the position, the Board proposes that the Articles should be altered to substitute a borrowings multiple of 4 times Adjusted Capital and Reserves for the current limit of 2.5 times. It is further proposed that this multiple will apply until the Annual General Meeting of the Company to be held in the year 2000, whereupon the limit will revert to the previous multiple of 2.5 times. From Joseph Claude Dwek CBE Executive Chairman END MSCLJMBBLLTMBBL
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