Business
Publication of Circular, Notice of General Meeting
Publication of Circular, Notice of General Meeting.
About this update from Mears Group Plc
[{"type":"text","content":"\n\n11 August 2023\nMears Group PLC\n(the \"Company\")\nPublication of Circular and Notice of General Meeting\nCancellation of the Share Premium Account\n \nThe Company today announces that it has posted to shareholders a circular (the \"Circular\"), regarding the proposed cancellation of the entire amount standing to the credit of the Company's share premium account (the \"Capital Reduction\"), together with a form of proxy.\nThe Circular contains a notice of general meeting of the Company's shareholders (the \"Notice of General Meeting\"), which is to be held at the offices of Numis Securities Limited, 45 Gresham Street, London EC2V 7BF on 6 September 2023 at 9:30 a.m., at which a special resolution will be proposed to approve the Capital Reduction.\nThe Capital Reduction is conditional upon the passing by the Company's shareholders of the special resolution set out in the Notice of General Meeting, as well as the subsequent confirmation by the Court of the cancellation.\nIf it becomes effective, the Capital Reduction would create additional distributable reserves of approximately £82,497,000, which (subject to any arrangements required for the protection of the Company's creditors and any directions given by the High Court of Justice in England and Wales (the \"Court\"), in confirming the cancellation) may be used by the Company to deliver returns to shareholders in the future, whether in the form of dividends, distributions or purchases of the Company's own shares.\nNational Storage Mechanism\nThe Circular (including the Notice of General Meeting) and the form of proxy have been have been submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism. A copy of the Circular (including the Notice of the General Meeting) will also be available for viewing on the Company's website at www.mearsgroup.co.uk.\nFor further information contact:\n\n\n\nMears Group PLC\n\n\n \n\n\n\n\nBen Westran, Company Secretary \n\n\nTel: +44(0)1452 634660\n\n\n\n \n \n\n","length":4036,"tagName":"div"}]