logo-loader
viewAnglo Asian Mining PLC

Anglo Asian clears regulatory hurdle to pave way for future dividend payments

A UK court has given the miner the green light for Anglo Asian to transfer its share premium account to distributable reserves

leaf growing out of money
CEO Reza Vaziri said at June’s AGM that the board was considering a maiden dividend

Anglo Asian Mining Plc (LON:AAZ) has cleared a regulatory hurdle which will allow the gold, copper and silver miner to start paying a dividend.

At June’s annual general meeting, chief executive Reza Vaziri said the board was considering paying a maiden dividend.

READ: Dividend plan underlines confidence at Anglo Asian

To do this though, it needed to cancel its share premium account to create distributable reserves.

Shareholders agreed to this at the AGM but a court also had to give its approval, which Anglo Asian has now received.

“The capital reduction will enhance the company's ability to pay dividends to shareholders in the future, as the amount standing to the credit of the company's share premium account which has been cancelled, will be transferred to distributable reserves,” read Wednesday morning’s statement.

Anglo shares rose 2.1% to 43.4p in early deals on Wednesday.

Quick facts: Anglo Asian Mining PLC

Price: 126.5 GBX

AIM:AAZ
Market: AIM
Market Cap: £144.71 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Anglo Asian Mining PLC named herein, including the promotion by the Company of Anglo Asian Mining PLC in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Investor Update: Amryt Pharma's AP101 given fast-track status by US regulator

Headlines from the Proactive UK newsroom. Amryt Pharma (LON:AMYT) has received fast track designation from the US FDA for its treatment for skin disease EB. The FDA recognised that EB is a serious disease and that there are no FDA-approved treatments for this condition. Shanta Gold...

2 weeks, 5 days ago

2 min read