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LONDON - Watchstone Group plc announced Monday it plans to reduce its share premium account by £1.0 million and return £850,000 in cash to shareholders, equivalent to approximately 1.85 pence per ordinary share.
The proposed actions remain subject to court approval, with a directions hearing already held today and the final court hearing scheduled for August 5, 2025, according to a company press release.
If approved, the share premium reduction and cash return will become effective upon registration of the court order with Companies House, expected on August 6.
The company also outlined its timetable for implementation, with the last day of trading on Aquis Exchange set for July 31, followed by cancellation of its listing on August 1. Shareholders of record as of August 5 would receive payment around August 14 through either cheques or CREST account credits.
The proposal was previously communicated to shareholders in a circular dated June 3, 2025.
Watchstone noted that the dates provided are estimates subject to court hearing schedules, with any changes to be announced through regulatory channels.
Zeus Capital is serving as financial adviser and broker to Watchstone for this transaction.
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