Kistos PLC Capital Reduction Update (3987C)
11 October 2022 - 3:58AM
UK Regulatory
TIDMKIST
RNS Number : 3987C
Kistos PLC
10 October 2022
10 October 2022
Kistos plc
("Kistos" or "Company")
Capital Reduction Update
Further to the publication on 10 May 2022 of the Notice of
Annual General Meeting (the "Notice"), and the passing of all the
required Resolutions at the Annual General Meeting of the Company
on 9 June 2022, the Company announces that the final hearing in the
Court process to convert its Euro 14,734,000 merger reserve into a
distributable reserve is expected to be held on 11 October 2022
(the "Court Hearing").
As described in the Notice, an issue of bonus shares, each
having a nominal value to be determined as at the date of the Bonus
Issue (each a "Capital Reduction Share"), shall occur on the
evening of 10 October 2022 (being the day before the Court
Hearing). Accordingly, the record time for the bonus issue shall be
6.00 p.m. on 10 October 2022 (the "Record Time"). The nominal value
of each Capital Reduction Share shall be determined as described in
the Notice.
One Capital Reduction Share shall be issued for each ordinary
share of 10p in issue as at the Record Time. In addition, and as
described in the Notice, the Capital Reduction Shares will not be
admitted to trading on AIM or to trading on any regulated market.
No share certificates will be issued in respect of the Capital
Reduction Shares. The Capital Reduction Shares will have extremely
limited rights. In particular, the Capital Reduction Shares will
carry no rights to vote, no rights to participate in the profits of
the Company and no rights to participate in the Company's assets
save on a winding-up. The Capital Reduction Shares will be
transferable, but it is not expected that any market in them will
develop and it is anticipated that the Court will confirm their
cancellation at the Court Hearing on the day immediately after the
date on which they have been issued.
The Company will announce the outcome of the Court Hearing on 12
October 2022. F ull details of the Capital Reduction are set out in
the notice of AGM which was sent to Shareholders. The notice of AGM
is also available for inspection on the Kistos website,
https://kistosplc.com/ .
Enquiries:
Kistos plc
Andrew Austin, Executive Chairman (c/o Hawthorn Tel: +44 (0)20
Advisors) 3745 4960
Panmure Gordon (Nomad, Joint Broker)
John Prior / James Sinclair-Ford Tel: +44 ( 0)20
7886 2500
Berenberg (Joint Broker)
Matthew Armitt / Ciaran Walsh Tel: +44 (0)20
3207 7800
Hawthorn Advisors (Public Relations Advisor) Tel: +44 (0) 20
Henry Lerwill / Simon Woods 3745 4960
Camarco (Public Relations Advisor)
Billy Clegg / G eorgia Edmonds Tel: +44 (0)20
3757 4983
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END
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