Reductions of Capital
In August 2007, Informa announced that following a review of its dividend policy and given the excellent cash flow characteristics of the Group’s businesses and the level of resilience of the Group’s review and profits streams, it had decided to increase materially the company’s dividend payout ratio. In order to enable the company to implement the new dividend policy, Informa requested shareholder approval for an increase of the company’s distributable reserves by way of a reduction of its share capital and cancellation of its share premium account.
Shareholder approval was obtained at a General Meeting of the company held on 27 November 2007 to:
(i) Reduce the share capital of the company by cancelling and extinguishing 9.9 pence of the amount paid up or credited as paid up on each of the issued ordinary shares of 10 pence in the capital of the company and reducing the nominal value of each issued and authorised but unissued ordinary shares in the capital of the company to 0.1 pence;
(ii) Cancel the share premium account of the company; and
(iii) Amend the articles of association by deleting article 3.
At a hearing on 19 December 2007, the High Court confirmed the cancellation of the company’ share premium account and the reduction of the company’s share capital by the reduction of the nominal value from 10 pence to 0.1 pence. The reductions in both became effective on 21 December 2007.
Announcement 25 October 2007
Circular to Shareholders
Statutory Unconsolidated Company Only Accounts of Informa plc for the 6 months ended 30 June 2007
Voting Results