THE share premium account of Woodchester Investments plc was reduced by order of the High Court yesterday by £9.2 million. On the application of Mr Denis McDonald, counsel for Woodchester, the President of the High Court, Mr Justice Costello, made the order that the share premium account of the company which at present stood at £39,455,000 be reduced by the sum of £9,274,000 to £30,181,000. Mr McDonald said that the reduction would not affect the ability of the company or its subsidiaries to meet obligations to creditors.