27th Oct 2005 15:13
WPP Group PLC27 October 2005 Announcement that the Reduction of Capital has become Effective 27 October 2005 WPP Group plc (formerly called WPP 2005 plc) Reduction of Capital becomes Effective On 26 October 2005 the High Court sanctioned the proposed reduction of capitalof WPP Group plc (WPP) (formerly called WPP 2005 plc) reducing the nominal valueof each of its ordinary shares (both issued and unissued) by 465p from 475p to10p (the Reduction). The order of the High Court has today been delivered tothe Registrar of Companies in England and Wales for registration and has beenregistered by him. Accordingly, the Reduction has today become effective. Accordingly the capital of WPP has been reduced from £8,312,550,000 divided into1,750,000,000 Ordinary Shares of 475p each of which 1,256,650,042 are issuedfully paid or credited as fully paid and 50,000 Redeemable Preference Shares of£1 each of which 50,000 are issued fully paid or credited as fully paid to£175,050,000 divided into 1,750,000,000 Ordinary Shares of 10p each and 50,000Redeemable Preference Shares of £1 each. The Reduction has created distributable reserves of £5,843,422,695. Enquiries: Feona McEwanTel: +44 (0)20 7408 2204 Additional information Unless the context otherwise appears, terms defined in the WPP's scheme circulardated 31 August 2005 have the same meaning in this announcement. The directors of WPP accept responsibility for the information contained in thisannouncement and, to the best of their knowledge and belief (having takenreasonable care to ensure that such is the case), the information contained inthis announcement is in accordance with the facts and does not omit anythinglikely to affect the import of such information. Merrill Lynch International, which is authorised and regulated in the UK by theFinancial Services Authority, is acting exclusively for WPP and New WPP inconnection with the Scheme Proposals and for no-one else and will not beresponsible to anyone other than WPP and New WPP for providing the protectionsafforded to their respective clients, for the contents of this announcement, orfor providing advice in relation to the Proposals. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
WPP