Digitalbox PLC (AIM:DBOX), the owner of websites Entertainment Daily, The Daily Mash, The Poke, The Tab and TV Guide, has proposed a capital-reduction programme to support shareholder returns.
Noting that it has negative distributable reserves, Digitalbox is proposing a transfer of the balance from its share premium account into distributable reserves.
“We expect the process to be completed by 31 December 2024, subject to obtaining appropriate court dates and registration of the share capital reduction at Companies House," said Digitalbox.
A notice of a general meeting on the matter will be published in “in due course”.