Equals secures Court approval of capital reduction
Equals Group plc (LON:EQLS), a fintech payments group focused on the Enterprise and SME marketplace, has provided an update on the proposed reduction in share premium account.
The company confirms that the Capital Reduction has been duly approved by the Court and has now been filed at Companies House resulting in distributable reserves of around £25 million.
Subject to filing the updated accounts detailing the distributable reserves at Companies House, the Board intends to declare a maiden interim dividend of 0.5 pence per share. Furthermore, it expects that, subject to shareholder approval, the final dividend for the 2023 full year will be 1.0 pence per share, giving a total dividend of 1.5 pence for 2023.
The capital reduction has already secured the shareholders’ approval.