TIDMARP

RNS Number : 9124X

Ashcourt Rowan PLC

22 February 2012

22 February 2012

ASHCOURT ROWAN PLC

("Ashcourt Rowan" or the "Company")

Reduction of Share Premium Account

Ashcourt Rowan plc (AIM: ARP), the UK wealth management group, announces that on 22 February 2012 it was granted an order by the High Court of Justice (the "Court") confirming the approval for the Company to reduce the amount of the share premium account by GBP50 million. The court order and statement of capital were registered by the Registrar of Companies today, following which the reduction of the share premium account took effect.

Ashcourt Rowan received shareholder approval for the share premium account reduction at the Company's general meeting held on 2 December 2011. Having received confirmation from the Court, the amount of the share premium account so reduced that is not carried to a special reserve in the Company's accounts will be credited as a distributable reserve which will be able to be applied in any manner in which the Company's profits available for distribution are able to be applied.

For further information please contact:

 
 Jonathan Polin, CEO                 Ashcourt Rowan plc 
  jonathanpolin@ashcourtrowan.com     www.ashcourtrowan.com        +44 (0) 20 7871 7373 
 Gordon Neilly                                                     +44 (0) 20 7050 6778 
  gneilly@canaccordgenuity.com 
 
  Sue Inglis                                                       +44 (0) 20 7050 6779 
  singlis@canaccordgenuity.com 
  Rishi Zaveri                       Canaccord Genuity Limited 
  rzaveri@canaccordgenuity.com        www.canaccordgenuity.com     +44 (0) 20 7050 6780

Media enquiries:

 
                     MRM 
 Andrew Appleyard     www.mrm-london.com    +44 (0) 20 3326 9908

Notes to the editors:

Ashcourt Rowan Plc is one of the UK's leading and fastest-growing wealth management companies. Today, Ashcourt Rowan provides its personalised approach to financial advice and asset management services directly and through third party advisers to over 50,000 clients across the UK via the Ashcourt Rowan (Ashcourt Rowan Financial Planning Ltd, Ashcourt Rowan Asset Management Ltd & Ashcourt Rowan Administration Ltd) and Savoy brands. The group currently has around GBP4 billion of assets under management and influence and an expanding network of 19 offices across the UK. Further information on Ashcourt Rowan can be found at www.ashcourtrowan.com.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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