Thursday,
11 April 2024
KR1 plc
(“KR1” or
the “Company”)
Further re: Notice of Extraordinary General
Meeting
-
Amendments to Resolution
Further to
the Company's announcement of 10 April
2024 regarding the convening of an Extraordinary General
Meeting of the Company for 10.00 a.m.
on 29 April 2024, the Company
announces its intention to amend the Resolution to be proposed at
the EGM to clarify the minimum and maximum price at which the
Company may make market acquisitions of its Ordinary Shares
pursuant to the Resolution and to correct minor typographical
errors.
No new
notice of EGM will be published and the amendments to the
Resolution will be effected by a motion to be passed at the
EGM. Furthermore,
no new Form of Proxy will be posted to Shareholders.
The full
text of the amended Resolution is set out below:
"That,
without prejudice to, and in addition to and not in substitution
for, any existing authorities, the Company be and is hereby
authorised, in accordance with the Isle of Man Companies Act 2006
(as amended), to make market acquisitions of ordinary shares in the
capital of the Company ("Ordinary
Shares"),
provided that:
(a)
the
maximum aggregate number of Ordinary Shares hereby authorised to be
purchased is 26,587,691 Ordinary Shares, being 14.99% of the issued
number of Ordinary Shares (excluding treasury shares) at the date
of this document or, if lower, such
number as is equal to 14.99% of the issued number of Ordinary
Shares at the date of passing this resolution;
(b)
the
minimum price which may be paid for an Ordinary Share is £0.0019
(being the nominal value of an Ordinary Share);
(c)
the
maximum price (exclusive of expenses) which may be paid for an
Ordinary Share is the higher of:
(i)
105% of
the average of the middle market quotations for an Ordinary Share
(as derived from the Aquis Stock Exchange) for the five business
days immediately preceding the day on which such Ordinary Share is
contracted to be purchased; and
(ii)
the higher
of the price of the last independent trade in the Ordinary Shares
and the highest then current independent bid for an Ordinary
Share on the
trading venue where the purchase is carried out; and
(d)
unless
previously renewed, revoked or varied the authority hereby
conferred shall expire at the conclusion of the annual general
meeting of the Company to be held in 2025 or the date falling 18
months after the passing of this resolution, whichever is the
earlier, save that the Company may before such expiry make a
contract or contracts to purchase Ordinary Shares under the
authority hereby conferred prior to the expiry of such authority
which will or may be completed or executed wholly or partly after
such expiry and may make a purchase of Ordinary Shares in pursuance
of any such contract or contracts."
Capitalised
terms used in this announcement have the meanings given to them in
the circular to shareholders of the Company dated 10 April
2024.
--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).