Hornby plc (GB:HRN) has released an update.
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Hornby PLC has announced the disposal of its subsidiary, LCD Enterprises Limited, to EKD Enterprises Limited for £1.38 million. To facilitate this, Hornby is buying back shares from Lyndon Davies and has issued new shares, which will be admitted to AIM on November 26, 2024, expanding its share capital to 169,853,775 ordinary shares. This strategic move is aimed at strengthening Hornby’s financial position and ensuring sufficient distributable reserves.
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