REG - Kistos PLC - Capital Reduction Update

Kistos HoldingsAnnouncement

10/10/2022 18:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221010:nRSJ3987Ca&default-theme=true

RNS Number : 3987C  Kistos PLC  10 October 2022

10 October 2022

Kistos plc

("Kistos" or "Company")

Capital Reduction Update

 

Further to the publication on 10 May 2022 of the Notice of Annual General
Meeting (the "Notice"), and the passing of all the required Resolutions at the
Annual General Meeting of the Company on 9 June 2022, the Company announces
that the final hearing in the Court process to convert its Euro 14,734,000
merger reserve into a distributable reserve is expected to be held on 11
October 2022 (the "Court Hearing").

 

As described in the Notice, an issue of bonus shares, each having a nominal
value to be determined as at the date of the Bonus Issue (each a "Capital
Reduction Share"), shall occur on the evening of 10 October 2022 (being the
day before the Court Hearing). Accordingly, the record time for the bonus
issue shall be 6.00 p.m. on 10 October 2022 (the "Record Time"). The nominal
value of each Capital Reduction Share shall be determined as described in the
Notice.

 

One Capital Reduction Share shall be issued for each ordinary share of 10p in
issue as at the Record Time. In addition, and as described in the Notice, the
Capital Reduction Shares will not be admitted to trading on AIM or to trading
on any regulated market. No share certificates will be issued in respect of
the Capital Reduction Shares. The Capital Reduction Shares will have extremely
limited rights. In particular, the Capital Reduction Shares will carry no
rights to vote, no rights to participate in the profits of the Company and no
rights to participate in the Company's assets save on a winding-up. The
Capital Reduction Shares will be transferable, but it is not expected that any
market in them will develop and it is anticipated that the Court will confirm
their cancellation at the Court Hearing on the day immediately after the date
on which they have been issued.

 

The Company will announce the outcome of the Court Hearing on 12 October 2022.
Full details of the Capital Reduction are set out in the notice of AGM which
was sent to Shareholders. The notice of AGM is also available for inspection
on the Kistos website, https://kistosplc.com/ (https://kistosplc.com/) .

 

Enquiries:

 Kistos plc

 Andrew Austin, Executive Chairman (c/o Hawthorn Advisors)       Tel: +44 (0)20 3745 4960

 Panmure Gordon (Nomad, Joint Broker)

 John Prior / James Sinclair-Ford                                Tel: +44 (0)20 7886 2500

 Berenberg (Joint Broker)
 Matthew Armitt / Ciaran Walsh                                   Tel: +44 (0)20 3207 7800

 Hawthorn Advisors (Public Relations Advisor)                    Tel: +44 (0) 20 3745 4960

 Henry Lerwill / Simon Woods

 Camarco (Public Relations Advisor)

 Billy Clegg / Georgia Edmonds                                   Tel: +44 (0)20 3757 4983

 

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  CARFLFVRIALILIF