Watchstone Group PLC

Transaction in Own Shares • Jun 9, 2020

National Storage Mechanism | Additional information

RNS Number : 4119P

Watchstone Group PLC

09 June 2020

Watchstone Group plc

("Watchstone" or the "Company")

FIRST SHARE PREMIUM REDUCTION AND RETURN OF CASH

Watchstone Group plc (LON:WTG) announces that the High Court of Justice in England and Wales has made an order approving the reduction of the Company's share capital under the Companies Act 2006. Details of the reduction of the Company's share premium account ("First Share Premium Reduction") were set out in the circular to shareholders dated 9 April 2020 and the proposal was approved by shareholders at the General Meeting held on 27 April 2020.

The order of the Court will be filed with Companies House today, and the Share Premium Reduction and  proposed return of cash to Shareholders of 110p per fully paid Ordinary Share held ("First Return of Cash") will become effective upon registration at Companies House.

As announced on 29 May 2020, the Company has also invited shareholders to approve resolutions including those to authorise a proposed further reduction of the Company's share premium account ("Second Share Premium Reduction") and a proposed return of cash to shareholders of 40p per fully paid Ordinary Share held ("Second Return of Cash") at the Annual General Meeting to be held on 24 June 2020.

Expected Timetable of Events

Record Date for the First Return of Cash	6:00 p.m. on 10 June 2020
Ordinary Shares commence trading ex-entitlement to First Return of Cash	8:00 a.m. on 11 June 2020
Registration of Court Order and Effective Date of First Return of Cash	anticipated week commencing 15 June 2020
Annual General Meeting	1.00 p.m. on 24 June 2020
Dispatch of cheques to shareholders or shareholders' CREST accounts credited (as appropriate) in respect of the First Return of Cash entitlements	On or around 30 June 2020
Court Hearing to confirm the Second Share Premium Reduction (if so approved by shareholders at the Annual General Meeting)	21 July 2020
Record Date relating to the Second Return of Cash	22 July 2020
Ordinary Shares commence trading ex-entitlement to the Second Return of Cash	8.00 a.m. on 23 July 2020
Registration of Court Order and Effective Date of the Second Return of Cash	anticipated week commencing 27 July 2020
Dispatch of cheques to shareholders or shareholders' CREST accounts credited (as appropriate) in respect of the Second Return of Cash entitlements	On or around 31 July 2020

Notes

These dates are estimates only, being subject to agreement of hearing dates with the Court. Any changes will be notified to Shareholders by an announcement on the Regulatory News Service of the London Stock Exchange.

All references to time in this announcement are to London time.

Watchstone Group plc	Tel: 03333 44804
WH Ireland Limited, Nominated Adviser and broker	Tel: 020 7220 1666
Chris Hardie Lydia Zychowska

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