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LONDON - Next (LON:NXT) 15 Group plc (AIM:NFG), a tech and data-driven growth consultancy, announced Wednesday that the High Court of Justice of England and Wales has sanctioned the cancellation of the company’s share premium account.
The capital reduction, which will increase the company’s distributable reserves by £192,654,000, was approved by the court on Tuesday. The measure will become effective once the court order and associated statement of capital are registered with the Registrar of Companies.
According to the company’s statement, the capital reduction does not involve any distribution or repayment of capital and will not change the total number of shares in issue. The move is purely administrative in nature, effectively reclassifying how certain funds are categorized on the company’s balance sheet.
The capital reduction was initially outlined in Next 15 Group’s notice of Annual General Meeting published on May 6, 2025, where shareholders approved the proposal.
The company noted in its press release that the court order confirming the capital reduction has already been submitted to the Registrar of Companies for processing.
Next 15 Group, which trades on London’s AIM market under the ticker NFG, specializes in technology and data-driven consultancy services.
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