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LONDON - Bigblu Broadband PLC (AIM:BBB.L), a provider of alternative super-fast and ultra-fast broadband services, has announced a change in the schedule for its forthcoming court meetings, which are part of the process for a proposed capital return to shareholders. The company previously disclosed its intention to repurchase up to £6.1 million worth of shares from qualifying shareholders, a move that necessitates a capital reduction.
The Directions Hearing for Capital Reduction, initially set for 31 March 2025, will now take place on 28 March 2025. Similarly, the Confirmation Hearing for Capital Reduction has been moved from 15 April 2025 to 8 April 2025. These hearings are essential legal steps in the process of reducing the company’s capital as part of the return of funds to shareholders.
Despite the rescheduling of the hearings, the rest of the expected timeline for the Tender Offer remains unchanged, with the General Meeting still scheduled for 10:00 a.m. on 19 March 2025 and the results expected to be announced the following day. The effective date for the Capital Reduction is anticipated to be 17 April 2025.
The Tender Offer’s closing date, when shareholders must submit their Tender Forms and settle any related instructions, is set for 1:00 p.m. on 22 April 2025. The record date for the Tender Offer is 6:00 p.m. on the same day, with the purchase of Ordinary Shares under the Tender Offer scheduled for 24 April 2025.
The company has advised that all times and dates provided are indicative and subject to change. Should there be any alterations to the schedule, shareholders will be notified through a Regulatory Information Service announcement.
This announcement, based on a press release statement, also contains forward-looking statements regarding Bigblu Broadband’s expectations. These statements are not guarantees of future performance and are subject to risks and uncertainties. The company and its directors have stated that they do not intend to update any forward-looking statements unless required by law.
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