Mobile Tornado Group PLC Result of AGM and issue of equity (1279R)
12 June 2018 - 8:35PM
UK Regulatory
TIDMMBT
RNS Number : 1279R
Mobile Tornado Group PLC
12 June 2018
12 June 2018
Mobile Tornado Group plc
("Mobile Tornado", the "Company" or the "Group")
Result of AGM and issue of equity
Mobile Tornado (AIM: MBT), the leading provider of instant
communication mobile applications to the enterprise market,
announces that at the Annual General Meeting held earlier today,
all resolutions were duly passed.
As announced on 16 May 2018, the resolutions at the AGM
included, inter alia:
1. a special resolution to provide the Company with sufficient
headroom to issue and allot 50,800,000 new ordinary shares of 2
pence each in the Company ("Ordinary Shares") to InTechnology plc
("InTechnology") in accordance with the proposal to capitalise up
to GBP2.54 million of short term indebtedness owed by the Company
to InTechnology (the "Capitalisation Shares") as announced on 10
January 2018; and
2. a minor amendment to the Company's articles of association to
enable an extension to the redemption date of the GBP5.7 million of
redeemable preference shares from 31 December 2018 until 31
December 2020.
Admission to AIM and total voting rights
Application has been made to AIM for the Capitalisation Shares
to be admitted to trading ("Admission"). It is expected that
Admission will become effective on 18 June 2018. The Capitalisation
Shares will rank pari passu with the existing Ordinary Shares in
the Company.
Following the issue of the Capitalisation Shares, and for the
purposes of the Disclosure and Transparency Rules, the Company's
total issued share capital on Admission will consist of 349,240,236
Ordinary Shares.
The above figure may be used by shareholders as the denominator
for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest
in, the Company, under the Disclosure and Transparency Rules.
InTechnology shareholding
Following Admission, InTechnology will hold a total of
177,509,135 Ordinary Shares in the Company, equivalent to 50.8% of
the total issued ordinary share capital of the Company. In
addition, Peter Wilkinson holds a further 38,146,141 Ordinary
Shares, equivalent to 10.9% of the total issued ordinary share
capital of the Company on Admission. InTechnology will also hold
71,276,735 Preference Shares.
Enquiries:
Mobile Tornado Group plc www.mobiletornado.com
Jeremy Fenn, Chairman +44 (0)7734 475 888
Allenby Capital Limited (Nominated
Adviser & Broker) +44 (0)20 3328 5656
Virginia Bull / James Reeve / Nicholas
Chambers
Walbrook PR Ltd +44 (0)20 7933 8780 or
mobiletornado@walbrookpr.com
Paul Cornelius
Sam Allen
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END
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June 12, 2018 06:35 ET (10:35 GMT)
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