Reduction of Capital

RNS Number : 9685K

Global Ports Holding PLC

13 July 2017

 

13 July 2017

Global Ports Holding PLC ("GPH")

Reduction of Capital

Global Ports Holding PLC ("GPH") announces that the reduction of capital and cancellation of the share premium account described in the prospectus issued by GPH on 2 May 2017 (the "Reduction of Capital") has been approved by the High Court of Justice of England and Wales (the "Court") on 12 July 2017.

The Court Order approving the Reduction of Capital has been registered with the Registrar of Companies on 12 July 2017 and accordingly the Reduction of Capital has become effective. The nominal value of each of the ordinary shares in the capital of GPH (the "GPH Shares") has been reduced from £5.00 to £0.01, whereas the total equity of GPH remains unchanged, and the Reduction of Capital has created distributable reserves of approximately £332.3 million for GPH.

The Reduction of Capital is a legal and accounting adjustment and is not expected to have any direct impact on the market value of the GPH Shares.

For further information, please contact:

Global Ports Holding PLC

Asli Su Ata, Head of Investor Relations

Ismail Ozer, Investor Relations Analyst

Telephone: [phone]

Email: [e-mail]

Barclays Bank PLC

Phil Shelley

+ 44 (0) 20 3134 1475

Stuart Jempson

+ 44 (0) 20 7773 2088

Shore Capital                                                                                                                                                                

Dru Danford

Patrick Castle

Connor Williams

[phone]

 

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