RE: Cancellation of Share Premium Account2 Nov 2021 09:47
To effect the Distribution as detailed above, the Company proposes to: (i) pay a dividend in specie of the majority of the ordinary shares of Atome ("Atome Shares") which will be held by it to Shareholders who are on the Company's register of members on a specified date which will be notified to Shareholders in due course ("Record Time"), such Shareholders being referred to hereafter as "Qualifying Shareholders"; and (ii) apply for Admission. Immediately before the Distribution, President Energy will hold such ordinary shares in Atome as represents the said 85 per cent of Atome's issued share capital and it is anticipated that President Energy will distribute such number of Atome Shares as will leave President Energy with a holding of not more than 25 per cent of Atome following Admission.