Source - RNS
RNS Number : 4396R
Vivo Energy PLC
14 June 2018
 

14 June 2018

 

 

Vivo Energy plc

 

Reduction of Capital

 

 

As contemplated in the prospectus for the initial public offering of Vivo Energy plc (the "Company"), and pursuant to a special resolution of the shareholders of the Company passed on 3 May 2018, the Company announces that at a hearing in the High Court of Justice, Business and Property Courts of England and Wales on 12 June 2018, an order was given to confirm the reduction of the nominal value of the ordinary shares in the capital of the Company by US$1.00, from US$1.50 to US$0.50 (the "Reduction of Capital"). 

 

The order was produced to the Registrar of Companies and was registered on 13 June 2018, making the Reduction of Capital effective.

 

The Company confirms that following the Reduction of Capital, the number of issued shares and the rights attaching to those shares remain unchanged. Following the Reduction of Capital, as at 13 June 2018, the total number of ordinary shares of US$0.50 each of the Company is 1,201,798,866.

 

The purpose of the Reduction of Capital is to provide distributable reserves, which will allow the Company to make dividend payments at an appropriate time in the future.  It has no effect on the net asset position of the Company.

 

 

For further information, please contact:

 

Vivo Energy plc

 

Rob Foyle, Head of Communications

+44 1234 904 037

[email protected]

 

 

Paul Waters, Head of Corporate Secretariat

+44 1234 904 029

[email protected]

 

 


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