ZYT Zytronic Plc

TIDMZYT

RNS Number : 5545Z

Zytronic PLC

15 March 2017

 
For Immediate Release  15 March 2017 
 

ZYTRONIC PLC

Confirmation of Capital Reduction

Zytronic plc (AIM: ZYT), a leading specialist manufacturer of touch sensor componentry, announces that on 15 March 2017 the Court granted an order approving the reduction of the Company's non-distributable reserves account (the "Capital Reduction"), as approved by shareholders on 16 February 2017.

The Capital Reduction will be effective once the order has been filed with the Registrar of Companies and the Company intends to file this order shortly. A further announcement will be made when the Capital Reduction becomes effective.

The purpose of the Capital Reduction is to create additional distributable reserves which will provide the Company with further flexibility in relation to the payment of future dividends. Following the implementation of the Capital Reduction, there will be no change in the number of Ordinary Shares in issue; furthermore there is no immediate plan to return capital to Shareholders, whether by way of any additional dividend, a share buy back or otherwise. Further details of the Capital Reduction can be found in the circular dated 5 January 2017 which is available free of charge from the Company's website:

http://www.zytronicplc.com/wp-content/uploads/sites/5/2017/01/Zytronic-plc-Circular-to-Shareholders-2017.pdf

Contacts:

 
 Zytronic plc                       0191 414 5511 
 Mark Cambridge, Chief Executive 
 Claire Smith, Group Finance 
  Director 
 
 N+1 Singer (Nominated Adviser 
  & Broker)                         020 7496 3000 
 Aubrey Powell / Liz Yong 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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March 15, 2017 07:23 ET (11:23 GMT)

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