Business
Annual Report & Accounts & Notice of Annual GM
Annual Report & Accounts & Notice of Annual GM.
About this update from Harworth Group Plc
[{"type":"text","content":"\n \nRNS Number : 8850T Harworth Group PLC 01 April 2016 \n\n1 April 2016\nHARWORTH GROUP PLC\nAnnual Report and Accounts\nand \nNotice of Annual General Meeting\nFollowing the release on 24 February 2016 of the Company's financial results for the year ended 31 December 2015, Harworth Group plc (the \"Company\"), the property regeneration and investment specialist, announces it has today published its annual report and accounts for the year ended 31 December 2015 (the \"Annual Report and Accounts\") together with the notice convening the Company's annual general meeting (the \"AGM\") (the \"Notice of AGM\"). The AGM will be held at the Company's offices at Bessemer Conference Room, AMP Technology Centre, Advanced Manufacturing Park, Brunel Way, Waverley, Rotherham, S60 5WG on 26 April 2016 at 1.00 p.m.\nAt the AGM, two matters of special business of note will be considered. The first concerns the proposed consolidation of the Company's ordinary share capital. The second concerns the cancellation of the share premium account. \nSHARE CONSOLIDATION\nThe Board recognises that the large number of shares in issue with a nominal value of 1.0p per share is not practicable for the Company nor for investors. The Board proposes that the Company's ordinary share capital be consolidated (the \"Share Consolidation\"). It is proposed that one new ordinary share of 10.0 pence each is issued in replacement for every 10 existing ordinary shares of 1.0 pence each (\"New Ordinary Shares\").\nSubject to the passing of Resolution 14 at the AGM, it is expected that the Share Consolidation will become effective and the Official List of the UKLA will be amended to reflect the Share Consolidation (the \"Effective Date\") on 3 May 2016. \nNew share certificates in respect of each shareholder's holding of New Ordinary Shares will be sent to the holders of certificated shares as soon as practicable after the Effective Date. Shareholders who hold their shares in uncertificated form will have their CREST accounts credited on the Effective Date.\nThe New Ordinary Shares have the ISIN code: GB00BYZJ7G42.\nCANCELLATION OF SHARE PREMIUM\nThe Company has successfully transitioned from being the parent of a loss making mining business to a property investment company. Historically the former business made significant losses which eroded the level...