EQUALS GROUP PLC

Notice of Dividend Amount • Sep 12, 2023

National Storage Mechanism | Additional information

RNS Number : 0825M

Equals Group PLC

12 September 2023

For immediate release	12 September 2023

Equals Group plc

('Equals', the 'Group' or the 'Company')

Proposed Reduction in Share Premium Account

Publication of Circular and Notice of General Meeting

Equals Group plc (AIM:EQLS), the fintech payments group focused on the Enterprise and SME marketplaces, is pleased to announce that tomorrow, 13 September 2023, it will be posting to shareholders a circular (the 'Circular'), regarding the proposed reduction of the Company's Share Premium Account in the amount of £25,000,000.00 to £31,648,823.20 (the 'Capital Reduction').

The Circular contains a notice of general meeting of the Company's shareholders (the 'Notice of General Meeting'), which is to be held at the offices of Buchanan Communications Ltd, 107 Cheapside, London EC2V 6DN on 3 October 2023 at 11.30 a.m. at which a special resolution will be proposed to approve the Capital Reduction.

The Capital Reduction is conditional upon the passing by the Company's shareholders of the special resolution set out in the Notice of General Meeting, as well as the subsequent confirmation by the High Court of the cancellation.

If it becomes effective, the Capital Reduction would create additional distributable reserves to the value of around £25,000,000, which (subject to any arrangements required for the protection of the Company's creditors and any directions given by the High Court of Justice in England and Wales (the 'Court'), in confirming the cancellation) may be used by the Company to deliver returns to shareholders in the future, whether in the form of dividends, distributions or purchases of the Company's own shares. The Capital Reduction is expected to be completed by mid Q4-2023.

The Board intends conditional, inter alia, upon the completion of the proposed capital reduction, to pay a maiden dividend of 1.5 pence per share in respect of the financial year 2023.  A further announcement will be made in due course following the conclusion of the capital reduction process.

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For more information, please contact:

Equals Group plc
Ian Strafford-Taylor, CEO Richard Cooper, CFO	Tel: +44 (0) 20 7778 9308 www.equalsplc.com
Canaccord Genuity (Nominated Adviser & Joint Broker)
Max Hartley / Harry Rees	Tel: +44 (0) 20 7523 8150
Peel Hunt LLP (Joint Broker)
Paul Shackleton / John Welch	Tel: +44 (0) 20 7418 8900
Buchanan (Financial Communications)
Henry Harrison-Topham / Stephanie Whitmore / Toto Berger equals@buchanan.uk.com	Tel: +44 (0) 20 7466 5000 www.buchanan.uk.com

Notes to Editors:

Equals Group plc is a technology-led international payments group augmented by highly personalised service for the payment needs of SME's whether these be FX, card payments or via Faster Payments. Founded in 2007, the Group listed on AIM in 2014. For more information, please visit www.equalsplc.com.

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