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11 June 2025 13:22:35
- Source: Sharecast
11 June 2025
K3 BUSINESS TECHNOLOGY GROUP PLC
("K3" or "the Group" or "the Company")
Update on Capital Reduction
K3, which provides business-critical software solutions focused on fashion and apparel brands, announces that it has received the requisite confirmation from the Court to enable completion of the Share Capital Reduction, further details of which were set out in the Company's announcement and explanatory circular, dated 3 April 2025.
The Capital Reduction will become effective once the relevant filings have been registered with the Registrar of Companies in England and Wales, expected shortly. The Company will make a further announcement confirming the effective date of the Capital Reduction.
As previously announced, following completion of the Capital Reduction the Company will put proposals to Shareholders for the return of approximately £29 million in cash to members by way of a Tender Offer and to de-list the Company's Ordinary Shares from AIM as soon as practicable after the Tender Offer.
Capitalised terms used in this announcement have the meaning given to them in the Company's circular dated 3 April 2025 unless the context required otherwise.
Enquiries:
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K3 Business Technology Group plc |
Oliver Scott, Chairman |
T: c/o 020 3178 6378 |
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www.k3btg.com |
Eric Dodd, Chief Executive Officer |
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Cavendish Capital Markets (NOMAD & Broker) |
Julian Blunt/ Callum Davidson (Corporate Finance) Sunila De Silva (Corporate Broking) |
T: 020 7220 0500 |
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KTZ Communications |
Katie Tzouliadis/ Robert Morton |
T: 020 3178 6378 |
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