CentralNic Group PLC Completion of Capital Reduction (2442W)
15 August 2020 - 2:23AM
UK Regulatory
TIDMCNIC
RNS Number : 2442W
CentralNic Group PLC
14 August 2020
14 August 2020
CentralNic Group plc
("CentralNic" or "the Company" or "the Group")
Completion of Capital Reduction
CentralNic Group PLC (AIM: CNIC), the internet platform that
derives revenue from the worldwide sales of internet domain names
and related services, is pleased to announce that the Capital
Reduction resolved by its Annual General Meeting on 4 June 2020 has
been completed subsequent to its approval by the High Court and its
registration by the Companies House effective 14 August 2020.
The Capital Reduction increases the Company's distributable
reserves and facilitates making future distributions to its
shareholders, including the payment of dividends. The Capital
Reduction does not result in any cash outflow nor does it impact
the Company's profits. There is no change in the number of shares
in issue or their nominal value. No new share certificates are
being issued because of the Capital Reduction. The Capital
Reduction itself does not involve any distribution or repayment of
capital or share premium by the Company and does not reduce the
underlying net assets of the Company.
Ben Crawford, CEO of CentralNic, said: " It is an opportune time
to undertake this Capital Reduction, thereby making the payment of
dividends possible, should the Board decide at a future date that
the financial performance of the Group and the economic environment
indicate that issuing a dividend is the most appropriate action to
benefit shareholders."
For further information:
CentralNic Group Plc
Ben Crawford, Chief Executive Officer
Don Baladasan, Group Managing Director
Michael Riedl, Chief Financial
Officer +44 (0) 203 388 0600
Zeus Capital Limited (NOMAD and
Joint Broker)
Nick Cowles / Jamie Peel (Corporate
Finance)
John Goold / Rupert Woolfenden +44 (0) 161 831 1512
(Institutional Sales) +44 (0) 203 829 5000
Stifel (Joint Broker)
Fred Walsh / Alex Price +44 (0)20 7710 7600
Newgate Communications (for Media) +44 (0) 203 757 6880
Bob Huxford centralnic@newgatecomms.com
Tom Carnegie
Isabelle Smurfit
About CentralNic Group plc
CentralNic (AIM: CNIC) is a London-based AIM-listed company
which drives the growth of the global digital economy by developing
and managing software platforms allowing businesses globally to buy
subscriptions to domain names, used for their own websites and
email, as well as for protecting their brands online. Its core
growth strategy is identifying and acquiring cash-generative
businesses in its industry with annuity revenue streams and
exposure to growth markets and migrating them onto the CentralNic
software and operating platforms.
CentralNic operates globally with customers in almost every
country in the world. It earns recurring revenues from the
worldwide sales of internet domain names and other services on an
annual subscription basis.
For more information please visit: www.centralnicgroup.com
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END
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