Court confirms Capital Reduction

RNS Number : 8403H

Carclo plc

19 March 2015

 



19 March 2015

Carclo plc ("Carclo")

Court confirms capital reduction

The Company announces that at a hearing held yesterday, the High Court of Justice in England and Wales confirmed the reduction of the Company's share premium account and capital redemption reserve ("Capital Reduction") under section 648 of the Companies Act 2006.

Subject to office copies of the Court Order being delivered to and registered by the Registrar of Companies it is expected that the Capital Reduction will become effective today.

Enquiries:
Carclo plc	01924 268040
Chris Malley, Chief Executive
Robert Brooksbank, Finance Director
Peel Hunt LLP	0207 418 8900
Justin Jones
Jock Maxwell Macdonald
Mike Bell
N+1 Singer	0207 496 3000
Shaun Dobson
Richard Lindley
Weber Shandwick Financial	020 7067 0700
Nick Oborne
Tom Jenkins

Notes to editors

Carclo plc is a public company whose shares are quoted on the London Stock Exchange.

Carclo's strategy is to develop and expand its key manufacturing assets where there remain significant further opportunities to drive value. To enhance profit margins the group has been investing in new technologies.

Approximately three fifths of revenues are currently derived from the supply of fine tolerance, injection moulded plastic components, mainly for medical products. The balance of revenue is derived mainly from the design and supply of specialised injection moulded LED based lighting systems to the low volume premium automotive industry.

 

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