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LONDON - Women’s fashion brand Sosandar PLC (AIM:SOS) announced Thursday that its previously approved capital reduction has become effective following court approval.
The capital reduction, which received court approval on October 14, has now been registered with the Registrar of Companies along with a court-approved statement of capital, according to a company statement.
Shareholders had previously approved the capital reduction at a meeting held on September 18, following the publication of a circular detailing the proposal on September 2.
The company emphasized that the capital reduction does not involve any distribution or repayment of capital, nor does it affect the rights attached to ordinary shares. The total number of ordinary shares in issue and their nominal value remain unchanged.
Sosandar, which targets style-conscious women with fashion-forward clothing, sells primarily through its website, its own stores, and through partnerships with retailers including NEXT and Marks & Spencer.
The company, founded in 2016 and listed on London’s AIM market in 2017, offers own-label exclusive products designed and tested in-house across various women’s fashion categories.
This article is based on a press release statement from the company.
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