Nvidia, Amazon and Tesla rise premarket; Walmart falls
LONDON - Metlen Energy & Metals PLC announced Monday that its previously approved capital reduction has become effective, reducing the nominal value of its ordinary shares from €11 to €1 per share.
The capital reduction, which shareholders approved on June 20, 2025, was confirmed by the High Court of Justice of England & Wales on November 11 and registered with the Registrar of Companies on November 13, according to a company press release.
As part of the process, Metlen also cancelled its legacy Redeemable Non-Voting Preference Shares and Non-Voting Subscriber Shares that were issued during the company's incorporation and in preparation for a share-for-share exchange offer conducted from June to August 2025.
The capital reduction creates €1,430,229,800 in additional distributable reserves, providing the company with "further flexibility to deliver shareholder returns over the coming years either in the form of dividends and/or share buybacks," the company stated.
Following the completion of the capital reduction, Metlen's share capital now amounts to €143,022,980, divided into 143,022,980 ordinary shares with a nominal value of €1 each.
The company has informed the UK Financial Conduct Authority, London Stock Exchange and Athens Stock Exchange about the capital reduction becoming effective.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.