RedstoneConnect plc (LON:REDS), a leading provider of technology and services for smart buildings and commercial spaces, is pleased to announce that the Court has made an order approving the reduction of the Company’s share capital under the Companies Act 2006 (the “Reduction of Capital”) at a hearing on 28 June 2017. Details of the Reduction of Capital were set out in the circular to shareholders dated 12 May 2017 and the proposal was approved by shareholders at the Company’s Annual General Meeting held on 5 June 2017.
The order of the Court and statement of capital have been delivered to and registered by the Registrar of Companies today. The Capital Reduction is therefore effective today, the result of which is the cancellation of: (i) the Company’s deferred shares; (ii) the Company’s share premium account; and (iii) the new B shares in the capital of the Company issued as part of the capitalisation of the amount standing to the credit of the Company’s merger reserve.
RedstoneConnect Plc is focused on technologies that make real estate more efficient and businesses more effective. Its businesses, Redstone, Connect IB, Commensus and Anders + Kern, provide the infrastructure capabilities and the software applications to deliver smart building and smart workspace solutions for commercial businesses, public sector organisations, real estate owners and managers.
