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On 9 July 2025, the High Court of England and Wales sanctioned Iofina plc's capital reduction, involving the cancellation of the share premium account as at 31 December 2024, which shareholders approved on 9 June 2025. Iofina plc reported this changed a retained balance sheet deficit of approximately US$24.9m into a US$35.8m surplus, while the issued share capital remains 191,858,408 ordinary shares.
| Date | 9 Jul 2025 |
| Time | 07:00:05 |
| Category | Capital structure |
| ID | 2544Q |
9 July 2025
Iofina plc
("Iofina" or the "Company")
(AIM: IOF)
Capital Reduction
Iofina plc (the "Company"), specialists in the exploration and production of iodine and manufacturers of specialty chemical products, is pleased to announce that the reduction of share capital of the Company pursuant to section 648 of the Companies Act 2006, comprised of the cancellation of the Company's share premium account as at 31 December 2024 (the "Capital Reduction"), as approved by shareholders at the Annual General Meeting on 9 June 2025, was sanctioned by the High Court of England and Wales (the "High Court").
The effect of the Capital Reduction is to create distributable reserves.
The order of the High Court confirming the Capital Reduction, and the statement of capital approved by the High Court in connection therewith, will be sent to the Registrar of Companies. The Capital Reduction will become effective upon the registration of the High Court order by the Registrar of Companies, which is expected to take place soon.
The Company confirms that, following the Capital Reduction, the issued share capital of the Company remains at 191,858,408 ordinary shares of £0.01 each. The total number of voting rights in the Company also remains at 191,858,408.
Tom Becker, CEO & President, stated:
"I am pleased the Capital Reduction is now essentially complete, and accordingly, we have changed the retained deficit on the Company's balance sheet of approximately US$24.9m into a US$35.8m surplus. The Board looks forward to continuing with its efforts to position the Company as strongly as possible and will continue to have a disciplined approach to its capital allocation policy going forward."
Enquiries:
Iofina plc
Dr. Tom Becker
CEO & President
Tel: +44 (0)20 3006 3135
Nomad & Broker:
Canaccord Genuity Limited
Henry Fitzgerald-O'Connor/Bobbie Hilliam/Harry Rees
Tel: +44 (0)20 7523 8000
Media Contact:
Yellow Jersey PR Limited
Charles Goodwin/Shivantha Thambirajah/Zara McKinlay
Tel: +44 (0)7747 788 221/+44 (0)7983 521 488
About Iofina:
Iofina plc (AIM: IOF) is a vertically integrated company that specialises in the production of Iodine and the manufacturing of specialty chemical products. Iofina is the second largest producer of iodine in North America and operates the manufacturing entities Iofina Resources and Iofina Chemical.
LEI: 213800QDMFYVRJYYTQ84
ISIN: GB00B2QL5C79
Iofina Resources
Iofina Resources develops, builds, owns, and operates iodine extraction plants using Iofina's WET® IOsorb® technology. Iofina currently operates six producing IOsorb® plants in Oklahoma and is consistently using technology and innovation to improve and expand its operations.
Iofina Chemical
Iofina Chemical has manufactured high quality halogen speciality chemicals derived from raw iodine, as well as non-iodine-based products. Iofina Chemical celebrated its 40th anniversary in 2023 as a preeminent halogen-based specialty chemicals company.