17th Dec 2015 18:25
LONDON (Alliance News) - Ibstock PLC on Thursday said it has completed a reduction of its capital, as contemplated in the prospectus for its initial public offering in October.
The company said "47,918,922,626 deferred shares of GBP0.01 each were cancelled and extinguished, and (ii) the sum standing to the credit of the company's share premium account was cancelled (together, the capital reduction)".
The capital reduction was formally approved by the Companies Court of the Chancery Division in the High Court of Justice on Wednesday.
Following the capital reduction, the issued share capital of the company consists of 405.5 million ordinary shares of GBP0.01 each.
Shares in Ibstock closed up 1.2% at 215.50 pence on Thursday.
By Samuel Agini; [email protected]; @samuelagini
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