Touchstar plc
(the "Company", "Touchstar" or the "Group")
Capital Reduction
Touchstar plc (AIM: TST), suppliers of mobile data computing solutions and managed services to a variety of industrial sectors, is pleased to announce that the reduction of capital involving the reduction of the share premium account of the Company by £1,118,774 (the "Capital Reduction"), was confirmed by the court in Scotland ("Court") on 19 April 2023. This positive development now gives the Company the ability to consider returning value to shareholders, either by via payment of a dividend or via share buybacks.
The Court order confirming the Capital Reduction, and a statement of capital approved by the Court, will now be registered by the Registrar of Companies in Scotland and following their registration at Companies House, the Capital Reduction process will be complete.
Full details of the Capital Reduction were set out in the notice of the 2022 annual general meeting dated 26 May 2022 which is available for inspection on the Company's website.
Touchstar's intention is to update shareholders further after the AGM of the Company which is scheduled for the 22nd May 2023.
For further information, please contact:
| Touchstar plc Ian Martin Mark Hardy | 0161 874 5050 0161 874 5050 |
|
| |
| WH Ireland - Nominated Adviser & Broker Corporate Finance - Mike Coe/Sarah Mather | 020 7220 1666 |
Information on Touchstar plc can be seen at: www.touchstarplc.com
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.