Best of the Best PLC Result of General Meeting (2663Q)
16 February 2019 - 3:00AM
UK Regulatory
TIDMBOTB
RNS Number : 2663Q
Best of the Best PLC
15 February 2019
Best of the Best plc
("Best of the Best", "BOTB", "the Company" or "the Group")
Result of General Meeting and Short-form Balance Sheet
Best of the Best plc runs competitions online to win cars and
other prizes.
The Board is pleased to announce that at the General Meeting
held earlier today, all Resolutions put to shareholders were duly
passed.
Following approval of the Resolutions, it is expected that the
results of the Tender Offer will be announced on 19 February
2019.
Unaudited balance sheet
The Company also announces that, pursuant to the announcement
regarding the Tender Offer on 30 January 2019, it has now filed an
unaudited balance sheet as at 31 January 2019 with Companies House.
As a requirement under the Tender Offer, the balance sheet
demonstrates that the Company has sufficient distributable reserves
for the return of capital to shareholders. The principal movement
since the Company's last reported balance sheet of 31 October 2018,
is the improvement in retained earnings as detailed below.
As a result of profitable trading since 31 October 2018, at 31
January 2019 the Company had unaudited Cash and Cash Equivalents of
GBP5.716m (31 October 2018: GBP6.1944m) and Retained Earnings of
GBP3.559m (31 October 2018: GBP2.947m). Copies of the full
unaudited Company balance sheet as at 31 January 2019 will shortly
be available from Companies House.
Following completion of the Tender Offer, the Company will
retain cash balances in excess of GBP1.5 million, which the
Directors consider to be sufficient working capital to fund its
activities over the next 12 month period.
Terms used in this announcement shall have the meaning ascribed
to them in the circular sent to Shareholders on 30 January 2019
unless otherwise stated.
Enquiries:
Best of the Best plc William Hindmarch, Chief T: 020 7371
Executive 8866
Rupert Garton, Commercial
Director
KTZ Communications Katie Tzouliadis T: 020 3178
6378
finnCap Corporate Finance T: 020 7220
(Nominated Adviser and Carl Holmes 0500
Broker) Anthony Adams
ECM
Alice Lane
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END
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