Wednesday,
10 April 2024
KR1 plc
(“KR1” or
the “Company”)
Notice of Extraordinary General Meeting
KR1 plc
(KR1:ASE), a leading digital asset investment company, announces
that the Company is today issuing a circular (the "Circular") to
Shareholders convening a General Meeting of the Company for
10.00 a.m. on 29 April 2024.
At the
General Meeting, a resolution will be proposed seeking shareholder
approval for KR1 to make market purchases of up to 14.99 per cent.
of the Ordinary Shares currently in issue.
The
Directors believe that, in common with many other listed companies,
the Company should obtain from Shareholders a general authority to
make market purchases of its Ordinary Shares on the stock exchange.
Accordingly, the Board is seeking Shareholder approval at the
Extraordinary General Meeting to make market purchases of up to
14.99 per cent. of the Ordinary Shares currently in
issue.
If the
Resolution is passed at the EGM, the Buy-Back Authority will give
the Company authority to buy back its Ordinary Shares in the market
as permitted by the Act and the Articles. Any Ordinary Shares
bought back may be cancelled or held in treasury.
The
Buy-Back Authority will expire at the conclusion of the annual
general meeting of the Company to be held in 2025 (the "2025 AGM")
or the date falling 18 months after the passing of the Resolution,
whichever is the earlier. However, the Directors currently intend
to ask Shareholders to renew this authority at the 2025 AGM and
each subsequent annual general meeting thereafter.
The
Resolution specifies the maximum number of shares which may be
acquired (up to 14.99 per cent. of the Company’s issued ordinary
share capital as at the date of the Extraordinary General Meeting)
and the maximum prices at which they may be bought.
The
Buy-Back Authority will be exercised only if the Directors believe
that to do so would be in the best interests of Shareholders
generally.
The Board
believes the Buy-Back Authority (and any resulting market purchases
of Ordinary Shares if so determined) will benefit Shareholders by
providing a mechanism through which the Company can utilise its
available cash resources to manage any discount between the
Company's share price and its net asset value per Ordinary
Share.
A copy of
the full text of the Circular will be available at
www.kr1.io. Words
and expressions defined in the Circular have the same meaning in
this announcement.
The
Directors of KR1 plc accept responsibility for this
announcement.
--ENDS--
For
further information please contact:
|
KR1
plc
George
McDonaugh
Keld van
Schreven
|
+44
(0)1624 630 630
|
|
Peterhouse
Capital Limited (Aquis
Corporate Adviser)
Mark
Anwyl
|
+44 (0)20
7469 0930
|
|
SEC Newgate
(Financial Communications)
Bob Huxford
Ian Silvera
Atif Nawaz
|
+44(0)20 3757 6882
pr@kr1.io
|
About KR1 plc
KR1 plc is
a leading digital asset investment company supporting early-stage
decentralised and open source blockchain projects. Founded in 2016
and publicly traded in London on
the Aquis Growth Market (KR1:ASE), KR1 has one of the longest and
most successful track records of investment in the digital assets
space by investing in decentralised platforms and protocols that
are emerging to form new financial and internet
infrastructures.
www.KR1.io
Market
Abuse Regulation (MAR) Disclosure
This
announcement contains inside information for the purposes of
Article 7 of the Market Abuse Regulation EU 596/2014 as it forms
part of retained EU law (as defined in the European Union
(Withdrawal) Act 2018).