TIDMNSCI
RNS Number : 9821W
NetScientific PLC
24 August 2020
NetScientific plc
("NetScientific" or the "Company")
Result of General Meeting
NetScientific plc (AIM:NSCI), the transatlantic healthcare IP
commercialisation group, is pleased to announce at its General
Meeting held earlier today all resolutions were duly passed.
Accordingly, the Company has today authorised:
1. a capital reorganisation which has the effect of
consolidating ten Existing Ordinary Shares into one New Ordinary
Share;
2. the issue of 3,538,455 New Ordinary Shares at an Issue Price
of 65p pence raising gross proceeds of approximately GBP2.3 million
through a placing (the "Placing") with institutional and other
investors;
3. the issue of 3,521,480 New Ordinary Shares to Futura Messis
Group Ltd pursuant to the acquisition of EMV Capital Ltd (the
"Acquisition"); and
4. The adoption by the Company of the new Articles of Association.
The full details of the Acquisition, Placing and Capital
Reorganisation are set out in the announcement dated 5 August
2020.
John Clarkson, Chairman, said "the Board of NetScientific want
to express their gratitude to shareholders for their overwhelming
vote of support, enabling the transformation of the business, which
is now positioned for future success".
Admission to Trading on AIM
Further to the announcement on 5 August 2020, application for
admission to trading of the New Ordinary Shares has been made and
it is anticipated that admission will take place at 8.00 a.m. on 25
August 2020 ("Admission").
In accordance with the provisions of the Disclosure Guidance and
Transparency Rules of the Financial Conduct Authority, the Company
confirms that, following the Acquisition, Placing and Capital
Reorganisation, its issued share capital will comprise 14,916,122
New Ordinary Shares upon Admission. All of these New Ordinary
Shares have equal voting rights and none of the New Ordinary Shares
are held in treasury. The total number of voting rights in the
Company will therefore be 14,916,122 upon Admission.
Unless otherwise defined, terms used in this announcement shall
have the same meanings as those defined in the announcement dated 5
August 2020.
The full details of the votes cast are as follows.
Votes Cast % of Votes Cast
Resolution Resolution Text For Against For Against
No.
----------------------------------- ----------- -------- ------- ---------
Special Resolution To adopt the new Articles
1 of Association of the Company 23,518,025 421,879 98.2% 1.8%
----------------------------------- ----------- -------- ------- ---------
Ordinary
Resolution To approve the proposed
2 sub-division 23,508,223 431,681 98.2% 1.8%
----------------------------------- ----------- -------- ------- ---------
Ordinary
Resolution To approve the proposed
3 consolidation 23,511,134 428,770 98.2% 1.8%
----------------------------------- ----------- -------- ------- ---------
To approve the waiver granted
by the Panel on Takeovers
and Mergers of any requirement
Ordinary under Rule 9 on the Concert
Resolution Party to make a general
4 offer to shareholders 23,513,842 425,777 98.2% 1.8%
----------------------------------- ----------- -------- ------- ---------
To authorise the Directors
to allot shares in the
Ordinary Company in respect of the
Resolution Consideration and Placing
5 Shares 23,446,323 493,581 97.9% 2.1%
----------------------------------- ----------- -------- ------- ---------
Ordinary To authorise the Directors
Resolution to allot shares in the
6 Company generally 23,446,038 493,581 97.9% 2.1%
----------------------------------- ----------- -------- ------- ---------
To disapply statutory pre-emption
Special Resolution rights in respect of the
7 Placing Shares 23,446,038 493,581 97.9% 2.1%
----------------------------------- ----------- -------- ------- ---------
Special Resolution To disapply statutory pre-emption
8 rights generally 23,446,038 493,581 97.9% 2.1%
----------------------------------- ----------- -------- ------- ---------
# # #
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014. Following the
publication of this announcement, this inside information is now
considered to be in the public domain.
For more information, please contact:
NetScientific
Ilian Iliev, CEO Tel: +44 (0)20 3514 1800
WH Ireland (NOMAD, Financial Adviser and Broker)
Chris Fielding / Jessica Cave / Darshan Patel Tel: +44 (0)20
7220 1666
MO PR ADVISORY (Press Contact)
Mo Noonan Tel: +44 (0)78 7644 4977
About NetScientific
NetScientific PLC is a transatlantic healthcare IP
commercialisation Group focused on technologies and companies that
have the potential to treat chronic disease and significantly
improve the health and well-being of people.
For more information, please visit the website at www.NetScientific.net
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