Share Premium Cancellation effective
Share premium cancellation completed, creating £25.6m of distributable reserves for potential dividends or buybacks.
- Distributable reserves created £25.6m
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Software Circle plc (AIM: SFT) announces that the cancellation of the Company's share premium account (the "Share Premium Cancellation") has now become effective.
Following the sanction by the High Court of England and Wales (the "Court") of the Share Premium Cancellation on 6 October 2026, the order of the Court confirming the Share Premium Cancellation and a statement of capital approved by the Court were registered by the Registrar of Companies on 8 October 2026.
Details of the Share Premium Cancellation were set out in the explanatory circular dated 7 August 2026, and the Share Premium Cancellation was approved by the shareholders of the Company at its Annual General Meeting on 2 September 2026. The effect of the Share Premium Cancellation is to create approximately £25.6m of distributable reserves in the accounts of the Company. As a result of the Share Premium Cancellation, future cash generated by the Company will be available for the purposes of paying dividends or making share buybacks should circumstances dictate it appropriate or desirable to do so.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.