RNS Number : 9896I

Mears Group PLC

11 August 2023

11 August 2023

Mears Group PLC

(the "Company")

Publication of Circular and Notice of General Meeting

Cancellation of the Share Premium Account

The Company today announces that it has posted to shareholders a circular (the "Circular"), regarding the proposed cancellation of the entire amount standing to the credit of the Company's share premium account (the "Capital Reduction"), together with a form of proxy.

The Circular contains a notice of general meeting of the Company's shareholders (the "Notice of General Meeting"), which is to be held at the offices of Numis Securities Limited, 45 Gresham Street, London EC2V 7BF on 6 September 2023 at 9:30 a.m., at which a special resolution will be proposed to approve the Capital Reduction.

The Capital Reduction is conditional upon the passing by the Company's shareholders of the special resolution set out in the Notice of General Meeting, as well as the subsequent confirmation by the Court of the cancellation.

If it becomes effective, the Capital Reduction would create additional distributable reserves of approximately GBP82,497,000, which (subject to any arrangements required for the protection of the Company's creditors and any directions given by the High Court of Justice in England and Wales (the "Court"), in confirming the cancellation) may be used by the Company to deliver returns to shareholders in the future, whether in the form of dividends, distributions or purchases of the Company's own shares.

National Storage Mechanism

The Circular (including the Notice of General Meeting) and the form of proxy have been have been submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism . A copy of the Circular (including the Notice of the General Meeting) will also be available for viewing on the Company's website at www.mearsgroup.co.uk .

For further information contact:

 Mears Group PLC 
 Ben Westran, Company Secretary  Tel: +44(0)1452 634660 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.



(END) Dow Jones Newswires

August 11, 2023 02:00 ET (06:00 GMT)

Mears (LSE:MER)
Historical Stock Chart
From Nov 2023 to Dec 2023 Click Here for more Mears Charts.
Mears (LSE:MER)
Historical Stock Chart
From Dec 2022 to Dec 2023 Click Here for more Mears Charts.