Edinburgh-based Craneware, a provider of software for the US healthcare market, announced late on Friday a proposed “reduction of capital” which it said is expected to create “additional distributable reserves” of more than $284 million.

In a stock exchange statement, the company said: “Craneware … announces that it has today posted a circular to shareholders, incorporating a Notice of General Meeting, regarding a proposed reduction of capital.

“The General Meeting will be held at 3 p.m. on 20 August 2025 at the offices of Craneware plc, Tanfield House, 1 Tanfield, Edinburgh, EH3 5DA, UK.

“The proposed reduction of capital, if approved, would create distributable reserves that would give the company further flexibility to deliver shareholder returns over the coming years either in the form of distributions and/or purchases of the company’s own shares.

“The reduction of capital process comprises: (i) the proposed cancellation of the entire amount standing to the credit of the company’s share premium account; and (ii) the proposed capitalisation of the entire amount standing to the credit of the company’s merger reserve by issuing B Ordinary Shares in the capital of the company and the subsequent cancellation of such B Ordinary Shares.

“The Share Premium Reduction and the Merger Reserve Reduction together comprise the ‘Reduction of Capital’.

“The Reduction of Capital is conditional upon the passing by the company’s shareholders of the resolutions set out in the Notice of General Meeting, as well as confirmation being obtained from the Court of Session, Edinburgh, Scotland.

“The Reduction of Capital, if approved by shareholders and confirmed by the Court, is expected to create additional distributable reserves of US$ 284,185,184.18.

“The Reduction of Capital itself will not involve any distribution or repayment of capital, share premium or merger reserve by the company and will not reduce the underlying net assets of the company.”