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LONDON - Watchstone Group PLC (LSE:WTG) has announced plans to reduce its share premium account by £1.0 million and to return the corresponding amount of cash to its shareholders. This financial maneuver, known as a "Share Premium Reduction," along with the "Return of Cash," is subject to approval by shareholders at the upcoming Annual General Meeting (AGM) and must be confirmed by the Court.
The company has scheduled a directions hearing with the Court for July 21, 2025, and the final hearing to confirm the Share Premium Reduction is set for August 5, 2025. If shareholder approval is obtained at the AGM scheduled for 10:00 a.m. on June 27, 2025, and the Court subsequently confirms the reduction, the Court order will be registered with Companies House. The Share Premium Reduction and Return of Cash will become effective upon this registration.
According to the proposed timetable, should the AGM and Court approve the actions, the effective date of the Return of Cash is anticipated to be August 6, 2025. Following this, shareholders can expect to receive their cash entitlements through dispatch of cheques or credits to their CREST accounts, as appropriate, on or around August 14, 2025.
The proposed dates are provisional and contingent upon the Court’s agreement on hearing dates. The company has clarified that any changes to the schedule will be communicated to shareholders via an announcement on the Regulatory News Service.
Watchstone Group PLC, which is listed on the London Stock Exchange (LON:LSEG), has informed its shareholders of these potential financial changes through its investor relations channel. The company’s financial adviser and broker, Zeus Capital, is available for further inquiries regarding this announcement.
This news is based on a press release statement from Watchstone Group PLC and is intended to inform shareholders and the market of the upcoming financial proceedings involving the company.
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