Business
Notice of GM
Notice of GM.
About this update from Alumasc Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 2072I\n Alumasc Group PLC\n 31 March 2020\n \n \n \n For immediate release\n31 March 2020\n The Alumasc Group plc\n(\"Alumasc\" or the \"Company\")\n Proposed Capital Reorganisation\n Notice of General Meeting\n The Board of Alumasc (the \"Board\") announces that the Company will later today post a circular (the \"Circular\") to shareholders of Alumasc (\"Shareholders\") detailing a proposed reorganisation of the capital of the Company (the \"Capital Reorganisation\") and convening a general meeting of the Company (the \"General Meeting\"), the purpose of which is to enable Shareholders to approve the Capital Reorganisation.\n As part of its long-term financial planning, the Company is proposing to re-organise its balance sheet reserves so as to convert certain non-distributable reserves to distributable reserves.\n The proposed re-organisation is part of the Board's longer-term planning, designed to provide flexibility in the future and is consistent with the Company's initial response to the Covid-19 pandemic, announced on 27 March 2020. In the short-term, as announced, our priorities have been to safeguard the welfare of our workforce, customers, suppliers and to conserve cash. In this light the Board also took the decision to cancel the interim dividend of 2.95p per share as announced on 4 February 2020, due to be paid on 7 April 2020. In the same announcement the Board declared its intention to resume its dividend policy, as soon as forward visibility permits. The measures outlined in the Circular will provide the Company with the necessary distributable reserves for use when a degree of normality returns to our markets.\n Approval of the resolutions to be proposed at the General Meeting (the \"Resolutions\") will not result in any change to the nominal value of the Company's ordinary shares (\"Ordinary Shares\") or issued share capital or on voting rights, will have no impact on the Company's cash position or on its net assets and will not itself involve any distribution or repayment of capital or share premium by the Company.\n The General Meeting will be held at 9.30 a.m. on 23 April 2020 at the Company's offices at Station Road, Burton Latimer, Northamptonshire, NN15 5JP, United Kingdom.\n \n In the lead up to the General Meeting, we are closely monitoring the impact o...