i3 Energy Plc (GB:I3E) has released an update.
i3 Energy PLC, an independent oil and gas company, has announced an upcoming reduction in share capital, following shareholder approval, aimed at increasing distributable reserves to potentially enable future dividend payments or share buybacks. The final Court Hearing for this action is scheduled for July 2, 2024, with the implementation expected to commence shortly thereafter, provided the financial position remains stable and the court does not require creditor protection measures. The company’s net assets will remain unaffected by this move, as it will not alter share nominal value or the number of shares in issue.
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