Aggregated Micro Power Holdings Proposes Capital Reduction

16th Mar 2018 11:51

LONDON (Alliance News) - Energy company Aggregated Micro Power Holdings PLC said on Friday it will hold a general meeting on April 11 to propose a capital reduction.

Aggregated Micro will reduce its share premium account, which currently amounts to GBP22.7 million, and aims to eliminate the profit and loss deficit and create distributable reserves for the company by transferring the amount standing to the credit of the share premium account, and transfers it the profit and loss account.

Aggregated Micro will also be more flexible to pay dividends in the future, subject to its financial performance, however this is not intended to take place in its current financial year to the end of March.

The proposal requires no less than 75% of votes at the general meeting to pass, and also requires court approval.

Shares in Aggregated Micro Power Holdings were untraded on Friday, last quoted at 100.00 pence.

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