30th Mar 2007 09:19
William Hill PLC30 March 2007 William Hill PLC Proposed reduction of capital William Hill PLC (the Company) announces that it proposes to reduce its sharecapital by way of a cancellation of approximately £311.3 million of theCompany's share premium account and the transfer of such amount to the Company'sdistributable reserves. The Board believes that the proposed reduction of capital will provide theCompany with the flexibility to maintain an efficient capital structure,including where necessary, through a combination of dividends and sharebuy-backs. Subject to the receipt of the necessary consents from its creditors, the Companyintends to seek the approval of its shareholders for the proposed reduction ofcapital at its forthcoming Annual General Meeting, the documents for which willbe posted shortly. The reduction of capital would be conditional on the approvalof the Company's shareholders by special resolution and on confirmation by theHigh Court. Enquiries: Simon Lane Group Finance Director 0208 918 3910 Date: 30 March 2007 END This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
WMH.L