Park Street A/S – Issue identified related to performed share capital reduction
22 August 2024 - 3:00AM
UK Regulatory
Park Street A/S – Issue identified related to performed share
capital reduction
Park Street A/S – Issue identified related to performed
share capital reduction
With reference to company announcement of 26
April 2024 regarding the general meeting’s approval of a share
capital reduction, and the subsequent execution of the share
capital reduction by cancellation of 2,955,585 treasury class A
shares (the listed shares) and 12,164,865 treasury class B shares
(the unlisted shares) performed on 30 May 2024, Park Street A/S
(the "Company") would like to inform that an unfortunate issue
relating to the cancellation of the 2,955,585 treasury class A
shares has been identified.
Due to an unfortunate mistake in the Company's
share register, the amount of treasury class A shares held by the
Company has appeared higher than it was, whereby the Company has
performed a share capital reduction by cancellation of 2,137,939
class A shares above its holding of treasury class A shares it had
legal title to.
The mistake is rooted in the conversion of
2,137,939 class B shares into 2,137,939 class A shares held by Park
Street NordAc S.a.r.l., performed on 19 July 2022 and informed to
the market in company announcement the same day. As the converted
class B shares were owned by Park Street NordAc S.a.r.l., the new
issued class A shares based on the conversion should have been
attributed to the account of Park Street NordAc S.a.r.l., but
instead they were mistakenly attributed to the account of the
Company as treasury shares during the settlement process.
Due to this error, the Company's recorded
holding of treasury class A Shares then included an excess of
2,137,939 shares, resulting in the cancellation of 2,137,939
treasury class A shares in excess of the Company's legal holding of
class A shares.
Park Street A/S currently investigating how to
solve this issue and will update with further information as soon
as it becomes available.
For further information please contact Pradeep
Pattem, CEO at parkstreet@parkstreet.dk
Company Website: www.psnas.com
Telephone Number: +45 33 33 93 03
- Company announcement - inside information_21082024
Park Street Nordicom A/s (LSE:0FFW)
Historical Stock Chart
From Oct 2024 to Nov 2024
Park Street Nordicom A/s (LSE:0FFW)
Historical Stock Chart
From Nov 2023 to Nov 2024
