Result of Court Hearing on Capital Reduction
High Court sanctions cancellation of share premium account, increasing distributable reserves by £192.7m.
- Increase in distributable reserves £192,654,000
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Next 15 Group plc (AIM: NFG), the tech and data-driven growth consultancy, announces that the cancellation of the Company's share premium account (the "Capital Reduction") was sanctioned yesterday by the High Court of Justice of England and Wales (the "Court").
The Court order confirming the Capital Reduction and a statement of capital approved by the Court in connection therewith has been sent to the Registrar of Companies. The Capital Reduction will become effective upon the registration of the Court order and associated statement of capital by the Registrar of Companies. The Capital Reduction, when effective, will increase the distributable reserves of the Company by £192,654,000.
Further information relating to the Capital Reduction is set out in the Company's notice of Annual General Meeting published on 6 May 2025. The Capital Reduction itself does not involve any distribution or repayment of capital by the Company and does not change the total number of shares of the Company in issue.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.