REG - Logistics Dev Grp - Share Capital Reduction

Logistics DevelopmentAnnouncement

23/02/2022 07:00

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RNS Number : 4752C  Logistics Development Group PLC  23 February 2022

23 February 2022

Logistics Development Group plc

 

("LDG" or the "Company")

 

Share Capital Reduction

 

LDG is pleased to announce that the cancellation of its share premium account
(the "Capital Reduction"), which was approved by shareholders on 31 January
2022, was sanctioned by the High Court of England and Wales on 22 February
2022. The order of the High Court confirming the Capital Reduction, and the
statement of capital approved by the High Court in connection therewith, were
delivered to the Registrar of Companies today. The Capital Reduction will
become effective upon the registration of the Court order by the Registrar of
Companies, which is expected to take place shortly. The purpose of the Capital
Reduction is to finance the on-market buyback of the Company's shares and also
facilitate any future payments of dividends and other returns of cash to
shareholders by creating distributable reserves.

 

The Capital Reduction did not change the number of the Company's ordinary
shares in issue or their nominal value of £0.01 each. The total number of
voting rights in the Company remains at 702,205,900.

 

 

For enquiries:

 

 Logistics Development Group plc     Via FTI Consulting
 FTI Consulting                      +44 (0) 20 3727 1340

 Nick Hasell

 Alex Le May

 Cally Billimore

 Strand Hanson Limited               +44 (0) 20 7409 3494

 (Financial and Nominated Adviser)

 James Spinney

 James Dance

 Abigail Wennington

 Investec Bank plc                   +44 (0) 20 7597 5970

 (Broker)

 Gary Clarence

 Harry Hargreaves

 

 

 

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