HOR Horizon Tech.

RNS Number:0752H
Horizon Technology Group PLC
06 November 2007



                          Horizon Technology Group plc

Dublin: HOR.I                      London: HOR.L                   ADR: HZNTY


                    Reduction in the share premium account





6 November 2007: Dublin & London

Horizon Technology Group plc, a leading system integrator and distributor of
information technology products in the UK and Ireland, is pleased to announce
that it has obtained a High Court order providing the Company with consent to
reduce its share premium account by the amount necessary to eliminate historical
losses and restore the profit and loss account to a nil position.

The Company has not been in a position to distribute dividends because it has
had cumulative retained losses. To rectify this position, the Company had
previously sought and received shareholder approval to reduce the share premium
account.

The directors do not intend to declare a dividend in the short term but believe
that it is important to eliminate the legal impediment on the payment of
dividends.  The position of the group's creditors has not been adversely
affected by the reduction.


For further information please contact:


Horizon Technology Group plc

Cathal O'Caoimh, Chief Financial Officer                    353 1 620 4900

K Capital Source

Mark Kenny/Jonathan Neilan                                  353 1 631 5500



ABOUT HORIZON

Horizon Technology Group plc is a leading technical integrator and distributor
of information technology products in the UK and Ireland. For more information
about Horizon Technology Group plc, visit www.horizon.ie.




                      This information is provided by RNS
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