The Irish High Court confirmed a reduction in the share capital of glassmaker Ardagh plc. At a hearing on 24 Feb, Justice Gilligan said the application for the company appeared to be in order. The reduction was approved by a company emergency general meeting on 15 Jan/03 by a majority of 92% to 8%. There was no objection to the application. One shareholder, K Anderson, who was present at the hearing had some matters to bring to the attention of the court. Anderson said a number of undertakings had been given by the company chairman and he was concerned these would would be adhered to. He also expressed his regret at the closure of the Ringsend facility. The authorised share capital of the company is EUR 15M, divided into 50M ordinary shares of EUR 0.30/each. This is being reduced to 50M ordinary shares at EUR 0.01/each. Profit and losses follow.
