Reduction Of Capital Becomes Effective
Retrieved on:
Saturday, June 10, 2023
Metro Bank is pleased to announce that, following the sanction by the High Court of Justice in England and Wales (the “Court”) of the reduction of capital by way of cancellation of the Bonus Shares and the Special Subscriber Shares (the “Reduction of Capital”) on 6 June 2023, the order of the Court confirming the Reduction of Capital and, a statement of capital approved by the Court, were registered by the Registrar of Companies.
Key Points:
- Metro Bank is pleased to announce that, following the sanction by the High Court of Justice in England and Wales (the “Court”) of the reduction of capital by way of cancellation of the Bonus Shares and the Special Subscriber Shares (the “Reduction of Capital”) on 6 June 2023, the order of the Court confirming the Reduction of Capital and, a statement of capital approved by the Court, were registered by the Registrar of Companies.
- Accordingly, the Reduction of Capital has now become effective.
- Details of the Reduction of Capital were set out in the Scheme Document published by Metro Bank plc on 22 March 2023 and the Prospectus published by Metro Bank on 22 March 2023, and the Reduction of Capital was approved by shareholders of Metro Bank at a general meeting of the Company on 26 April 2023.
- The Reduction of Capital in respect of the Bonus Shares does not involve any distribution or repayment of capital by Metro Bank.