Welcome to Hardy Plc

Hardy is an investing company with an investing policy under which the directors of Hardy (“the Directors”) sought to acquire interests in in investment opportunities that they perceive to be undervalued and where they believe there is an opportunity to generate added value for shareholders over the medium to long term, primarily in the form of a capital gain.

However, in the Hardy Interim Financial Report for the six months ended 30 September 2024, the Company announced proposals to pursue a realisation of investments strategy and a return of capital to shareholders over the short to medium term.

Realisation of investments and return of capital to shareholders

The Company was able to dispose of its entire investment portfolio during the year ended 31 March 2026 and made two return of capital distributions to shareholders in that year. The first of these was the payment of a 6.50 pence per share capital distribution on 21 October 2025 amounting to a total value of £4.795 million and the second was a further capital distribution of 1.95 pence per share paid on 11 February 2026 amounting a total value of £1.438 million.

Subsequently on 12 August 2026, the Director approved the payment of a final capital distribution of 0.43 pence per share payable on 26 August 2026 amounting to a total value of £0.317 million and which will have the resultant effect of eliminating the Company’s surplus assets and reducing the capital and reserves to £nil.

Dissolution of the Company under section 190 of the Isle of Man Companies Act

A notice of dissolution of the Company under section 190 of the Isle of Man Companies Act was sent to all shareholders on 1 May 2026 and on 22 July 2026, Hardy received confirmation from the Isle of Man Companies Registry that it was entitled to make a final distribution of surplus assets and for the Company to then be dissolved. Following payment of the final capital distribution on 26 August 2026, it is expected that Hardy will then be dissolved at the end of August 2026 or shortly thereafter.