Business
General meeting
General meeting.
About this update from Ithaca Energy Plc
[{"type":"text","content":"\n ITIS Holdings PLC\n29 October 2007\n\n\n ITIS Holdings plc\n\n ('ITIS' or the 'Company')\n\n General meeting in relation to a proposed reduction of capital\n\nITIS announces that it has today posted a circular to shareholders to convene a\ngeneral meeting at 9 a.m. on Thursday 22 November 2007 at the Company's\nregistered office (5th Floor, Station House, Stamford New Road, Altrincham,\nCheshire WA14 1EP).\n\nThe purpose of the meeting is to seek shareholder approval for the proposed\nelimination of an accumulated deficit on its profit and loss account of\n£33,520,972 by the cancellation of the whole of the amount standing to the\ncredit of its share premium account.\n\nIf the resolution to cancel the Company's share premium account is passed by\nshareholders, the Company will then seek the confirmation of the High Court of\nJustice Chancery Division to the cancellation of the share premium account. On \nthe current timetable, the cancellation would become effective on 24 January\n2008.\n\nThe effect of the capital reduction will also be to create a substantial\ndistributable reserve which will be available for the payment of future\ndividends.\n\nA resolution will also be proposed at the general meeting to increase the\nauthorised share capital of the Company to £10,000,000 by the creation of an\nadditional 2,450 Ordinary Shares of 2p each.\n\nA copy of the circular sent to shareholders will from tomorrow morning be\navailable on the Company's website, www.itisholding.com and from the Company's\nregistered office as detailed above.\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":1803,"tagName":"div"}]