High Court of Justice to Confirm Capital Reduction for Shearwater Group plc
1 report, 1 independent
Updated Sep 25
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What happened
Shearwater Group plc announced a general meeting scheduled for October 13, 2026. At this meeting, shareholders will vote on two resolutions, one of which requires confirmation from the High Court of Justice. This resolution aims to cancel the company’s existing deferred shares and extinguish its share premium account.
From investegate.co.uk
Why it matters
The company currently holds an accumulated historic deficit, primarily from accounting write-downs of investments. Because profits have not been sufficient to eliminate this deficit or restore distributable reserves, Shearwater Group plc is currently unable to make distributions to shareholders or undertake share repurchases.
From investegate.co.uk
Who's involved
- High Court of JusticeRequired to confirm the cancellation of existing deferred shares as part of the capital reduction process.