XP Factory plc (LON:XPF), one of the UK’s pre-eminent experiential leisure businesses operating the Escape Hunt® and Boom Battle Bar® brands, has confirmed that, as noted in its Interim Results, it is proposing to conduct a balance sheet re-organisation by way of a reduction of capital. This is a preliminary step to providing the distributable reserves required to have the ability and flexibility to return capital to shareholders in future. The reduction of capital will be subject to shareholder approval and a court approval process.
The Circular, which was posted on Friday 14 February 2025 and is available on XP Factory’s website, sets out the reasons for the capital reduction and includes a notice of the General Meeting to approve the proposed resolution and a timetable. The General Meeting will be held at 10.00 am on 5 March 2025 at the offices of Hill Dickinson LLP, The Broadgate Tower, 20 Primrose Street, London EC2A 2EW.
Subject to shareholder approval, the capital reduction is expected to be confirmed by Court Order on 25 March 2025. Thereafter, any plans to return capital to shareholders will be communicated separately.
Completion of the reduction of capital will not affect the rights attaching to the Ordinary Shares and will not result in any change to the number of Ordinary Shares in issue (or their nominal value).
