Capita plc announces share restructuring ahead of AGM

LONDON - Capita plc, a leading provider of consulting and digital services, has published its 2024 Annual Report and announced proposals for restructuring its share system, including a share premium account cancellation and a share consolidation. These initiatives, detailed in a circular to shareholders, are set to optimize the company’s balance sheet and enhance its ability to return value to shareholders in the future.

The share consolidation proposal involves a 15-for-1 ratio, where every 15 ordinary shares of 2 1/15 pence will be consolidated into one ordinary share of 31 pence. This move aims to simplify the company’s capital structure and is a common practice among corporations seeking to adjust the number of shares in circulation.

The circular also includes the Notice of the 2025 Annual General Meeting (AGM), scheduled for 10:30 a.m. on Tuesday 28 April 2025, at the Storey Club in London. The AGM will enable shareholders to vote on the proposed changes and discuss other company affairs.

In accordance with UK regulatory requirements, the 2024 Annual Report and the shareholder circular have been made available on Capita’s website and submitted to the National Storage Mechanism, ensuring transparency and accessibility for shareholders.

The expected timetable for the share consolidation indicates that the last day to trade existing ordinary shares will be on 28 April 2025, with the new ordinary shares expected to begin trading on the London Stock Exchange (LON:LSEG) the following day, 29 April 2025.

The share premium account reduction, another significant financial restructuring proposal, is subject to court approval, with hearings anticipated in mid-May and June 2025. If approved, this measure will cancel the amount standing to the credit of the company’s share premium account, a move that can often provide companies with more flexibility in managing their finances.

Capita’s announcement and the forthcoming AGM reflect the company’s strategic efforts to streamline operations and strengthen its financial position. Shareholders are advised to review the full circular and annual report for a comprehensive understanding of the proposals and their implications.

This news article is based on a press release statement from Capita plc.

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