F&C Private Equity Trust PLC F&C Private Equity Zeros plc-Share Premium Account (3617Q)
05 Novembre 2012 - 4:20PM
UK Regulatory
TIDMFPEO TIDMFPEZ TIDMFPER
RNS Number : 3617Q
F&C Private Equity Trust PLC
05 November 2012
To: RNS
Date: 5 November 2012
Company: F&C Private Equity Zeros plc
Cancellation of Share Premium Account
Resolutions were passed at the general meeting of the Company
and the separate general meeting of holders of the Company's zero
dividend preference shares, both held on 23 May 2012, approving the
cancellation of the amount standing to the credit of the Company's
share premium account as at 23 May 2012 subject to the Court of
Session (the "Court") confirming the cancellation.
The Directors are pleased to announce that the Court has now
confirmed the cancellation and the Court's order has been
registered by the Registrar of Companies. Accordingly, the
cancellation has now become effective and the amount of
approximately GBP28.9 million has been transferred from the
Company's share premium account to a newly created special reserve.
This amount can be treated as a distributable reserve for all
purposes permitted by the Companies Act 2006 (as amended). As
stated in the circular to shareholders of F&C Private Equity
Trust plc and the Company (together the "Group") dated 24 April
2012, the newly created special reserve will provide the Company
with the flexibility to buy back zero dividend preference shares
through the market if the Board considers such buy-backs to be in
the best interests of the Group's shareholders as a whole.
For further information please contact:
Gordon Hay Smith 0131 718 1018
F&C Investment Business Limited
This information is provided by RNS
The company news service from the London Stock Exchange
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