General Accident Plc Cancels Preference Shares
Why we think this is neutral
This RNS announcement is about the cancellation of preference shares by General Accident Plc. While this may have some financial implications, it does not appear to be a major news event that would significantly impact the company's performance or outlook.
Key Points
- Court of Session in Scotland has sanctioned the cancellation of preference shares
- Cancellation of £110,000,000 7.875% and £140,000,000 8.875% preference shares
- Cancellation expected to take effect on 6 June 2025
Summary
The financial services company is cancelling its outstanding preference shares.
General Accident Plc has announced that the Court of Session in Scotland has sanctioned the cancellation of the company's outstanding £110,000,000 7.875% cumulative irredeemable preference shares and £140,000,000 8.875% cumulative irredeemable preference shares. The cancellation is expected to take effect on 6 June 2025.
GENERAL UPDATE