(05/09/08) Capital Reduction
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RNS Number : 7993C
GTL Resources PLC
05 September 2008
FOR IMMEDIATE RELEASE |
5 September 2008 |
GTL Resources PLC
("GTL" or the "Company")
Capital Reduction
At the Annual General Meeting of GTL held on 29 November 2007, a resolution was passed pursuant to which, subject to the confirmation of the Court, the Directors were empowered to reduce the Company's share capital. The Company intends to apply the majority of the sum standing to the credit of the share premium account against the deficit on the profit and loss account.
We are pleased to confirm that on 4 September 2008 the High Court granted a preliminary order which includes appropriate arrangements for the protection of the Company's creditors. A final hearing is scheduled for 24 September 2008 following which a further announcement will be made.
For further information please contact:
GTL Resources PLC
Michael Brennan, Finance Director Tel; +44 1642 794000
Richard Ruebe, CEO Tel; U.S. 1 312 474 7845
Arbuthnot Securities Limited
James Steel +44 20 7012 2100
Antonio Bossi +44 20 7012 2116
Buchanan Communication
Charles Ryland Tel; +44 20 7466 5000
Ben Romney Tel; +44 20 7466 5000
This information is provided by RNS The company news service from the London Stock Exchange END
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