Oxford Pharmascience Group PLC Confirmation of Capital Reductions (8390Z)
December 19 2017 - 10:50AM
UK Regulatory
TIDMOXP
RNS Number : 8390Z
Oxford Pharmascience Group PLC
19 December 2017
Oxford Pharmascience Group plc
("Oxford Pharmascience" or the "Company")
Confirmation of Capital Reductions
Unless otherwise indicated, capitalised terms in this
announcement have the meaning given to them in the definitions
appearing in the circular issued by the Company on 10 November
2017.
Oxford Pharmascience Group plc (AIM: OXP) announces that the
Capital Reductions (as described in the circular to shareholders
published on 10 November 2017) were approved by the High Court of
Justice of England and Wales (the "Court") on 13 December 2017. The
Court order approving the Capital Reductions has now been
registered with the Registrar of Companies and accordingly the
Capital Reductions have become effective.
The share capital of the Company was reduced by cancelling and
extinguishing all of the Participating Deferred Shares of
GBP0.00099 each and cancelling and extinguishing the entire amount
of the Company's share premium account. The Capital Reductions are
a legal and accounting adjustment and are not expected to have any
direct impact on the market value of the Ordinary Shares.
Following the Capital Reductions, the number of Ordinary Shares
in issue remains unchanged, i.e. there are 1,205,661,619 Ordinary
Shares of GBP0.00001 each. The Ordinary Shares will remain the same
in all respects and continue to be admitted to trading on AIM in
the same way as prior to the Capital Reductions . Existing share
certificates remain valid following the Capital Reductions and no
new certificates will be issued. The ISIN for Ordinary Shares
remains unchanged.
The total voting rights in the Company remain unchanged, with
1,205,661,619 Ordinary Shares in issue. This figure may be used by
Shareholders as the denominator for the calculations by which they
will determine whether they are required to notify their interest
in, or a change to their interest in, the Company under the
Financial Conduct Authority's Disclosure and Transparency
Rules.
A further announcement will be made on completion of the
Demerger.
For further information please contact:
Oxford Pharmascience Group
Plc
----------------------------- -----------------
Chris Hill, Chief Financial
Officer +44 20 7554 5875
----------------------------- -----------------
N+1 Singer (Nominated
Adviser & Broker)
----------------------------- -----------------
Aubrey Powell/Jen Boorer +44 20 7496 3000
----------------------------- -----------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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