REG - RA Intnl Group PLC - Capital Reduction – Court Approval

Ra InternationalAnnouncement

20/12/2023 07:00

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RNS Number : 3686X  RA International Group PLC  20 December 2023

20 December 2023

RA INTERNATIONAL GROUP PLC

 

("RA International", "RA" or the "Company")

 

Capital Reduction - Court Approval

 

RA International Group PLC (AIM: RAI), a specialist provider of complex and
integrated remote site services to organisations globally, is pleased to
announce that further to the announcement on 2 November 2023 detailing the
Company's proposal to reduce its capital by the cancellation of its share
premium account in order to create distributable reserves (the "Capital
Reduction"), the High Court of England and Wales has made an order confirming
the reduction of the amount standing to the credit of the Company's share
premium account by an amount of USD 18,253,608 under section 648 of the
Companies Act 2006.

The Capital Reduction was approved by shareholders at a General Meeting held
on 22 November 2023. The order of the Court will be delivered to the Registrar
of Companies and, accordingly, will take effect on registration of the court
order by the Registrar of Companies, which is expected to occur over the next
few days (subject to processing times at Companies House over the Christmas
period).

The Capital Reduction itself will not involve any distribution or repayment of
capital or share premium by the Company and will not reduce the underlying net
assets of the Company. Pursuant to Part 23 of the Companies Act 2006, the
distributable reserves arising on the Capital Reduction will support the
Company's ability to undertake share buy-backs or pay dividends, should
circumstances in the future make it desirable to do so.

The information communicated in this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018, as amended.

Enquiries:

 RA International Group plc                                            Via Strand Hanson

 Sangita Shah, Chair

 Soraya Narfeldt, Chief Executive Officer

 Strand Hanson Limited (Nominated & Financial Adviser and Broker)      +44 (0) 20 7409 3494

 Ritchie Balmer / James Spinney / David Asquith

About RA International

RA International is a leading provider of services to remote locations. The
Company offers its services through three channels: construction, integrated
facilities management and supply chain, and services two main client groups:
humanitarian and aid agencies and western government organisations focusing on
overseas projects. It has a strong customer base, largely comprising UN
agencies, UK and US government departments and global corporations.

 

The Company provides comprehensive, flexible, mission critical support to its
clients enabling them to focus on the delivery of their respective businesses
and services. Focusing on integrity and values alongside making on-going
investment in its people, locations and operations has over time created a
reliable and trusted brand within its sector.

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