9th Nov 2005 07:00
Tanfield Group PLC09 November 2005 Tanfield Group Plc ('the Company') Result of EGM Tanfield Group Plc is pleased to announce that at its EGM held on 8 November2005 a special resolution was passed cancelling all of the amount standing tothe credit of the Company's share premium account as at 5p.m. on 6 December2005. The proposed cancellation of share premium account is subject to theapproval of the High Court and it is anticipated that the cancellation will takeeffect on or around 8 December 2005. Subject to the approval of the High Court, the proposed cancellation willestablish a new reserve in the books of the Company (the "Special Reserve")credited with the amount standing to the credit of the share premium account at5p.m. on 6 December 2005. It is anticipated that part of this Special Reservewill be governed by undertakings to the High Court and remain undistributable.However the remainder of the Special Reserve will be used to eliminate thedeficit on the Company's profit and loss account which will enable the Companyto pay dividends out of profits generated in the future when and in such amountsas the Directors recommend. Enquiries: Roy Stanley, Chief Executive,Tanfield Group Plc Tel. 01207 521111 Ruari McGirr,Daniel Stewart & Company Plc Tel. 020 7776 6550 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Tanfield