Power Metal Resources plc plans a capital reduction programme aimed at creating “sufficient distributable reserves” to return capital, through share buybacks or dividends, to its shareholders. FLEXIBILITY The company said that the “normal course” action was “highly desirable” to give it the “maximum flexibility” to return value to its investors. Power Metal added: “The company will, […]
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Hurricane plans to return up to $70m to shareholders
Hurricane Energy plc is planning a “significant”capital reduction programme to distribute reserves of up to $70 million, equivalent to 3.1 pence per share, to shareholders. MEETING Hurricane said that the programme involved cancellation of the company’s share premium account of approximately $822.5m, in order to create distributable reserves. The company intends to start the programme in Q1 2023 should […]