Explanatory circular—court procedure—reduction of capital
Explanatory circular—court procedure—reduction of capital

The following Corporate precedent provides comprehensive and up to date legal information covering:

  • Explanatory circular—court procedure—reduction of capital
  • 1 Introduction
  • 2 Background to and reasons for the Reduction
  • 3 Proposed Reduction
  • 4 Further details on the Reduction procedure
  • 5 General Meeting
  • 6 Action to be taken
  • 7 Recommendation

this document is important and requires your immediate attention.

If you are in any doubt about the contents of this document, or as to what action you should take, it is recommended that you seek your own independent financial advice from your stockbroker, bank manager, solicitor, accountant or other independent financial adviser duly authorised under the Financial Services and Markets Act 2000 (as amended).

If you have sold or transferred all of your shares in [insert company name] PLC, please forward this document together with the accompanying Form of Proxy as soon as possible to the purchaser or transferee or to the stockbroker, bank or other agent through whom the sale or transfer was effected for transmission to the purchaser or transferee.

[insert company name] PLC

(Incorporated and registered in England and Wales under the Companies Act [1985 OR 2006] with registered number [insert number])

Recommended proposals for [insert details of proposals, eg a reduction of capital]

and

Notice of General Meeting

Notice of a General Meeting of the Company to be held at [insert time] [am OR pm] on [insert date] at [insert address] is set out in Part IV of this document.

Shareholders will find a Form of Proxy enclosed for use at the General Meeting. To be valid, the Form of Proxy must be completed and returned as soon as possible and so as to be received by

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