Capital Reduction Process Becomes Effective

RNS Number : 3663M

Premier Asset Management Group PLC

28 July 2017

 

28 July 2017

Premier Asset Management Group PLC

Capital Reduction Process Becomes Effective

Premier Asset Management Group PLC (AIM: PAM) ("Premier" or the "Company") announced details of a capital reduction process on 7 June 2017 (the "Capital Reduction"). Details of the Capital Reduction were set out in a circular sent to shareholders on 7 June 2017, and the proposals were approved at a General Meeting held on 27 June 2017.

At a hearing in the High Court of Justice Chancery Division on 26 July 2017, an order was given to confirm the cancellation of the Company's share premium account.

The order was produced to the Registrar of Companies and was registered on 27 July 2017 making the Capital Reduction process effective.

The Company confirms that following the Capital Reduction, the number of issued shares and their nominal value remains unchanged and the Company expects that its distributable reserves will be in excess of some £50 million. For the purposes of the Financial Conduct Authority's Disclosure and Transparency Rules, the total number of ordinary shares of 0.02 pence each of the Company in issue is 105,801,310.

Enquiries: 

Premier Asset Management Group PLC	Tel: [phone] Mike O'Shea
Stifel Nicolaus Europe Ltd trading as KBW (Nomad and Joint Broker)	Tel: [phone] Gareth Hunt Stewart Wallace
Numis Securities Limited (Joint Broker)	Tel: [phone] Andrew Holloway Charles Farquhar
Smithfield Consultants (Financial PR)	Tel: [phone] John Kiely Andrew Wilde

About Premier

Premier is a fast-growing UK retail asset management group with a focus on delivering good investment outcomes for investors through relevant products and active management across its range of investment strategies, which include multi-asset, equity and absolute return funds.  Premier had £5.8 billion of assets under management as at 30 June 2017.

 

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