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19 February 2020

Charles Russell Speechlys advised AIM listed Prime People plc on its capital reduction and return of capital to shareholders

Charles Russell Speechlys has advised Prime People plc, the global specialist recruitment business and our AIM-listed client, on a reduction of capital by the cancellation of part of the amount standing to the credit of the Company’s share premium account and the subsequent return of capital to shareholders. 

Prime People PLC is a global group of specialist recruitment businesses headquartered in the UK with offices in London, Manchester, Hong Kong, Singapore, Dubai, Johannesburg and Frankfurt. The group companies recruit professional and technical staff working in the Real Estate & Built Environment; Energy & Environmental and Technology; and Digital & Data Analytics sectors.

The transaction required Prime People plc to gain shareholder and then court approval. The transaction enabled them to return capital amounting to c.16% of the share price (before the publication of the circular was announced) to shareholders.

Corporate Partner Andrew Collins at Charles Russell Speechlys commented: “We were delighted to support Prime People plc through this transaction and we wish the team all success for the future.”

The Charles Russell Speechlys team was led by Partner Andrew Collins assisted by Associate Catherine Heath.