Street Calls of the Week
LONDON - Sosandar plc (AIM:SOS), a UK fashion brand, announced Thursday that shareholders approved the proposed capital reduction resolution at its general meeting.
The special resolution, which will cancel the amount in the company’s share premium account and credit it to reserves, received 99.98% approval from voting shareholders. The resolution garnered 96,292,978 votes in favor and 18,958 against, with 46,404 votes withheld. The total voter turnout represented 38.80% of the company’s issued share capital.
The capital reduction process now moves to the courts for confirmation. According to the timetable outlined in the press release, Sosandar expects an initial directions hearing on September 26, followed by a Court Hearing to confirm the reduction on October 14. If approved, the effective date for the capital reduction is anticipated to be October 16.
The company noted that these dates are provisional and subject to court directions. The registration of the Court Order depends on when the Court confirms the capital reduction.
Sosandar, which sells women’s fashion products through its website, stores, and partnerships with retailers like NEXT and Marks & Spencer, has a total of 248,226,513 ordinary shares in issue with no shares held in treasury.
The resolution was proposed in a circular published by the company on September 2, 2025. The announcement was made via a Regulatory Information Service following the general meeting held earlier today.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.