RE: 1p this year ??13 Jun 2020 08:56
quickpro--you may have an option to vote for a share consolidation.
I think the boys are promoting 1p sp following normal trading patterns.
I have posted below the voting options following any equity event from Circum
In anticipation of a liquidity event, the Board has today adopted a formal policy setting out how the Board would apply the proceeds ("Circum Policy"). Under the Circum Policy, providing the proceeds of the liquidity event is greater than US$6,262,916 in respect of the Company's entire current holding in Circum ("Circum Interest"), then:
1. The Board of Directors would convene a general meeting at which shareholders will be asked to approve the disposal of the Circum Interest ("Circum Disposal").
2. Conditional on the approval of the Circum Disposal, Premier will first repay all existing debts and liabilities incurred in the ordinary course of business as at the date of the liquidity event of the Circum Interest.
3. Shareholders will be further asked to approve either of the following options to facilitate a fair and equitable distribution to Premier's shareholders of its Circum Interest;
- Direct distribution to existing shareholders by way of either a share dividend, share buyback scheme or such other scheme of arrangement that would be the most reasonably tax efficient for shareholders; or
- The retention by the Company of the disposal proceeds to allow Premier to investment into existing or new projects of Premier.