Marlowe PLC Capital Reduction Effective (4005G)
18 July 2023 - 9:15PM
UK Regulatory
TIDMMRL
RNS Number : 4005G
Marlowe PLC
18 July 2023
18 July 2023
Marlowe plc
Capital Reduction Effective
At a general meeting of Marlowe plc (the "Company") held on 19
June 2023 (the "General Meeting"), a resolution was passed by
shareholders to cancel the balance standing to the credit of the
share premium account of the Company, in doing so increasing the
distributable reserves of the Company by GBP 384,921,004.09 (the
"Capital Reduction") .
To be effective, the Capital Reduction required Court approval
and the Company is pleased to announce that Court approval has now
been obtained and the Capital Reduction is now effective. This
follows the Court order approving the reduction of capital which
was registered with Companies House on 17 July 2023.
Whilst the Board and management remain focussed on the continued
execution of the Company's stated growth strategy, the Capital
Reduction now removes a potential restriction on the Company's
ability to either make dividend payments and other distributions or
to purchase its own shares in the future. The Capital Reduction
will not change the number of Ordinary Shares in issue or the paid
up share capital of the Company or change any rights attaching to
the Ordinary Shares.
For further information:
Marlowe plc
Alex Dacre, Chief Executive www.marloweplc.com
Adam Councell, Chief Financial Tel: +44 (0) 203 813 8498
Officer
Benjamin Tucker, Investor Relations IR@marloweplc.com
Manager
Cenkos Securities plc (Nominated Adviser and Joint Broker)
Ben Jeynes Tel: +44 (0)20 7397 8900
George Lawson
Berenberg (Joint Broker)
Ben Wright Tel: +44 (0)20 3207 7800
Mark Whitmore
Stifel (Joint Broker)
Matthew Blawat Tel: +44 (0)20 7710 7688
Francis North
FTI Consulting
Nick Hasell Tel: +44 (0)20 3727 1340
Alex Le May
About Marlowe plc
Marlowe is a leader in business-critical services and software
which assure regulatory compliance. The company was formed to
create sustainable shareholder value through the acquisition and
development of businesses that provide regulated safety and
compliance services and software. It is focused on compliance
software, eLearning, health & safety, employment law & HR
compliance, fire safety & security, water & air hygiene and
occupational health services - all of which are vital to the
wellbeing of its customers operations and are invariably governed
by regulation. Marlowe currently provides software to over 1
million users and services to over 25% of Britain's commercial
premises. The Group provides customers with a single outsourced,
nationwide, provider of a range of regulated compliance and safety
solutions. Our customers can be found in office complexes, high
streets & leisure facilities, manufacturing plants and
industrial estates, and include thousands of SMEs, local
authorities, facilities management providers, multi-site NHS trusts
and FTSE 100 companies.
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END
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