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LONDON - K3 Business Technology Group PLC (AIM:KBT), a provider of software solutions for fashion and apparel brands, announced Thursday the approval of its Share Capital Reduction by shareholders at a General Meeting. The company will now seek court confirmation for the reduction, which is expected to be finalized by June 13, 2025.
Following the reduction, K3 plans to propose a cash return of approximately £29 million to its shareholders through a Tender Offer and intends to delist its Ordinary Shares from the AIM market. The proxy votes at the General Meeting showed overwhelming support for the resolution, with 99.99% voting in favor and only 0.01% against.
The Share Capital Reduction is part of a restructuring process aimed at enhancing shareholder value. The company has stated that further announcements regarding changes to the expected timetable of events will be communicated through a Regulatory Information Service.
This move comes after a detailed circular issued to shareholders on April 3, 2025, outlining the proposed changes and their implications. The return of capital to shareholders and the subsequent delisting from AIM represent significant shifts in K3’s corporate strategy.
The information in this article is based on a press release statement from K3 Business Technology Group PLC.
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