Business
Capital reorganisation
Capital reorganisation.
About this update from Optibiotix Health Plc
[{"type":"text","content":"\n \nRNS Number : 6335X OptiBiotix Health PLC 28 November 2017 \n\nOptiBiotix Health plc\n(\"OptiBiotix\" or the \"Company\")\n \nCapital reorganisation: Potential for future dividend payments\n \nOptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol, diabetes and skin care, announces that it intends to convene a General Meeting (\"GM\") to seek shareholder consent to undertake a share capital re-organisation to allow the Company to make future dividend payments. There will be no change in the number of Ordinary Shares in issue (or their nominal value) following the capital re-organisation.\n \nThe proposed capital reduction will cancel the Company's share premium account. This will create distributable reserves which will be available for the directors of the Company to use for the purposes of paying dividends, either in cash or 'in specie', should circumstances in the future make it desirable to do so.\nThe capital re-organisation requires both shareholder consent and the approval of the Court. Following the GM, if approved, an application will be made to the Court in order to confirm and approve the Capital Reduction.\n \nFurther details will be provided in the notice of AGM.\n \n Stephen O'Hara, CEO of OptiBiotix, commented: \"I am pleased to inform shareholders of our plans to allow the Company to make future dividend payments. The ability to make dividend payments provides the flexibility to consider paying a 'dividend in specie' to the Company's shareholders of shares it holds in SkinBioTherapeutics plc, should it be appropriate to do so. This is part of our strategy of building value across OptiBiotix divisions and where possible releasing value back to shareholders.\" \n \n\n\n\n\nOptiBiotix Health plc\n\n\nwww.optibiotix.com\n\n\n\n\nStephen O'Hara, Chief Executive\n\n\nContact via Walbrook below\n\n\n\n\n\n\n\n\n\n\n\n\nCairn Financial Advisers LLP (NOMAD)\n\n\nTel: 020 7213 0883 \n\n\n\n\nLiam Murray\n\n\n\n\n\n\n\n \nFinnCap (Broker)\n\n\n \nTel: 020 7220 0500 \n\n\n\n\nAdrian Hargrave / Scott Mathieson / Kate Bannatyne (Corporate Finance)\n\n\n\n\n\n\n\nTony Quirke / Abigail Wayne (Corpor...