REG - Marlowe PLC - Capital Reduction Effective

MarloweAnnouncement

18/07/2023 12:30

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RNS Number : 4005G  Marlowe PLC  18 July 2023

18 July 2023

 

Marlowe plc

 

Capital Reduction Effective

 

At a general meeting of Marlowe plc (the "Company") held on 19 June 2023 (the
"General Meeting"), a resolution was passed by shareholders to cancel the
balance standing to the credit of the share premium account of the Company, in
doing so increasing the distributable reserves of the Company by
£384,921,004.09 (the "Capital Reduction").

 

To be effective, the Capital Reduction required Court approval and the Company
is pleased to announce that Court approval has now been obtained and the
Capital Reduction is now effective. This follows the Court order approving the
reduction of capital which was registered with Companies House on 17 July
2023.

 

Whilst the Board and management remain focussed on the continued execution of
the Company's stated growth strategy, the Capital Reduction now removes a
potential restriction on the Company's ability to either make dividend
payments and other distributions or to purchase its own shares in the future.
The Capital Reduction will not change the number of Ordinary Shares in issue
or the paid up share capital of the Company or change any rights attaching to
the Ordinary Shares.

 

 

For further information:

 

 Marlowe plc
 Alex Dacre, Chief Executive                     www.marloweplc.com
 Adam Councell, Chief Financial Officer          Tel: +44 (0) 203 813 8498
 Benjamin Tucker, Investor Relations Manager     IR@marloweplc.com

 Cenkos Securities plc (Nominated Adviser and Joint Broker)
 Ben Jeynes                                      Tel: +44 (0)20 7397 8900
 George Lawson

 Berenberg (Joint Broker)
 Ben Wright              Tel: +44 (0)20 3207 7800
 Mark Whitmore

 Stifel (Joint Broker)
 Matthew Blawat          Tel: +44 (0)20 7710 7688
 Francis North

 FTI Consulting
 Nick Hasell             Tel: +44 (0)20 3727 1340
 Alex Le May

 

 

About Marlowe plc

Marlowe is a leader in business-critical services and software which assure
regulatory compliance. The company was formed to create sustainable
shareholder value through the acquisition and development of businesses that
provide regulated safety and compliance services and software. It is focused
on compliance software, eLearning, health & safety, employment law &
HR compliance, fire safety & security, water & air hygiene and
occupational health services - all of which are vital to the wellbeing of its
customers operations and are invariably governed by regulation. Marlowe
currently provides software to over 1 million users and services to over 25%
of Britain's commercial premises. The Group provides customers with a single
outsourced, nationwide, provider of a range of regulated compliance and safety
solutions. Our customers can be found in office complexes, high streets &
leisure facilities, manufacturing plants and industrial estates, and include
thousands of SMEs, local authorities, facilities management providers,
multi-site NHS trusts and FTSE 100 companies.

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