Litebulb Group Limited Notice of AGM and proposed capital reorganisation (4034N)
18 May 2015 - 4:02PM
UK Regulatory
TIDMLBB
RNS Number : 4034N
Litebulb Group Limited
18 May 2015
LITEBULB GROUP LIMITED
("LiteBulb" or the "Company")
Notice of AGM and proposed capital reorganisation
LiteBulb (AIM: LBB), the branded product developer, announces
that the Notice of Annual General Meeting (the "Notice") has been
sent to shareholders today, containing details of a proposed
capital reorganisation. The AGM will be held at the offices of
Fladgate LLP at 16 Great Queen Street, London WC2B 5DG on 4 June
2015 at 10.00 a.m. Copies of the Notice will be available on the
Company's website www.litebulbgroup.com.
In addition to the normal business of the Annual General Meeting
("AGM") the Notice also includes resolutions pertaining to a
reorganisation of the Company's issued share capital by way of a
consolidation (the "Capital Reorganisation").
It is intended that the following amendments to the Company's
share capital will take place:
-- every 50 existing ordinary shares of no par value ("Existing
Ordinary Shares") in the capital of the Company will be
consolidated into one ordinary share of no par value in the capital
of the Company ("New Ordinary Shares"); and
-- any fractional entitlements arising as a result of the
consolidation will be dealt with in accordance with article 50.2 of
the Company's articles of association, pursuant to which any New
Ordinary Shares in respect of which there are fractional
entitlements will be aggregated and sold in the market for the best
price reasonably obtainable on behalf of shareholders entitled to
fractions. The Company will distribute the net proceeds of sale in
due proportion to any such entitled shareholders but if the net
proceeds of sale amount to GBP3 or less, the proceeds will be
retained for the benefit of the Company (as a consequence of the
disproportionate cost in distributing such proceeds of sale).
The Capital Reorganisation is subject to the approval of
shareholders at the AGM. If the resolutions are passed, the Capital
Reorganisation will become effective immediately following close of
business on that date. Application will be made for the New
Ordinary Shares to be admitted to trading on AIM and, if the
resolutions are passed, it is expected that admission will become
effective at 8.00 a.m. on 5 June 2015.
The New Ordinary Shares arising upon the implementation of the
Capital Reorganisation will have the same rights as the Existing
Ordinary Shares including voting, dividend and other rights. In the
event that the resolutions in respect of the Capital Reorganisation
are passed at the AGM, it is expected that there will be 51,238,982
New Ordinary Shares in issue following completion of the Capital
Reorganisation.
Following the Capital Reorganisation, the Company's new ISIN
Code will be GB00BXVMLV36 and its new SEDOL Code will be
BXVMLV3.
The expected timetable of principal events is set out below. The
dates and times are indicative only and subject to change. Any
changes to the indicative timetable will be notified by a
regulatory announcement.
Expected timetable of principal events 2015
Latest time and date for receipt of the Forms of 10.00 a.m. on
Proxy 2 June
Annual General Meeting 10.00 a.m. on
4 June
Latest time and date for dealings in Existing Ordinary 4.30 p.m. on 4
Shares June
Record time and date for the Capital Reorganisation 6.00 p.m. on 4
("Record Date") June
Admission effective and commencement of dealings 8.00 a.m. on 5
in the New Ordinary Shares June
CREST accounts credited with the New Ordinary Shares 5 June
in uncertificated form
Despatch of definitive certificated for New Ordinary On or around 11
Shares (in certificated form) June
For further information, please contact:
LiteBulb Group Limited www.litebulbgroup.com
Simon McGivern, Chief Executive Tel: 020 3384 7131
Guy Pettigrew, Group Finance Director
finnCap (NOMAD & Broker) Tel: 020 7220 0500
Stuart Andrews/Scott Mathieson (Corporate
Finance)
Joanna Weaving (Corporate Broking)
Walbrook PR Limited Tel: 020 7933 8780 or litebulb@walbrookpr.com
Paul McManus / Sam Allen Mob: 07980 541 893 / Mob: 7884
664 686
About LiteBulb Group
LiteBulb Group designs, manufactures and distributes innovative
brands and products to the global retail market.
LiteBulb Products, our wide range of products are sold in over
30 countries through blue chip retailers including: ASDA, BHS,
Tesco, Sainsbury's, WH Smith, Halfords, Marks & Spencer,
Morrisons, QVC, Next, Fenwicks and Toys R Us.
LiteBulb Creative is a creative agency with global reach,
delivering compelling and agile brand extension programmes to the
entertainment industry. LiteBulb Creative has designed products and
campaigns for clients around the world, including Disney, Hasbro
and Miramax.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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