RE: AGM1 Jun 2021 16:06
Hi Smartinvestment - think this is standard ?
RESOLUTION 6: ALLOTMENT OF RELEVANT SECURITIES
The Directors may allot shares and grant rights to subscribe for, or convert any security into, shares only if authorised to do so by shareholders. The authority granted at the last AGM is due to expire at this year’s AGM. Accordingly, Resolution 6 will be proposed as an ordinary resolution to grant new authorities to allot shares and grant rights to subscribe for, or convert any security into, shares.
If given, these authorities will expire on the earlier of at the conclusion of the 2022 annual general meeting of the Company and the date falling 15 months from the passing of the Resolution.
In accordance with the latest institutional guidelines issued by The Investment Association, paragraph (a) of Resolution 6 will allow Directors to allot ordinary shares in connection with a rights issue, open offer or other pre-emptive offer to ordinary shareholders up to an aggregate nominal amount of £1,447,905.471, representing approximately one third of the Company’s existing issued share capital as 25 May 2021 (being the latest practicable date prior to the publication of this notice).
Paragraph (b) of Resolution 6 will also allow the Directors to allot Relevant Securities up to an aggregate nominal amount of £1,447,905.47, representing approximately one third of the Company‘s existing issued share capital as at 25 May 2021.
It is customary for a UK quoted company to maintain such an authority irrespective of any intention to exercise it. The Directors confirm that they do not currently have any intention to exercise this authority.
ATB
AJP
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