22nd Dec 2008 10:30
22 December 2008 Source BioScience plc ("Source BioScience" or "the Company") Court approval received for the cancellation of share premium account
Source BioScience plc the provider of expert, quality services to the healthcare, pharma biotech and life science research sector, has received Court approval for the cancellation of the Share Premium Account. This follows the consent by shareholders at the General Meeting held on 19 September 2008.
The effect of this cancellation creates a special reserve in the Company giving it the flexibility to purchase its own shares in the market to be held in treasury or cancelled and to pay dividends.
The possible courses of the action will be reviewed by the Board from time to time who will consider the best interests of the Company and its shareholders. It should be noted that the reduction of the share premium account will not, in itself, involve any distribution or repayment of capital by the Company to any shareholder and will not reduce the Company's underlying assets.
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For further information, please contact:
Source BioScience plcNick AshManaging DirectorTel: 0115 973 9010www.sourcebioscience.com
Bishopsgate Communications Ltd
Nick Rome/Gemma O'Hara
Tel: 0207 562 3350
www.bishopsgatecommunications.com
vendorRelated Shares:
SBS.L