RE: RNS out9 Feb 2021 18:11
1) How can I access a proxy vote:
a. These are available on the Company’s website:
https://wp-rms-2020.s3.eu-west2.amazonaws.com/media/2021/01/27081416/Proxy-from-GM-12-2-21.pdf
2) What are the votes required to stop the issue of warrants?
a. The issue of the warrants is conditional, in part, on the passing of a special
resolution. Special resolutions require a majority of 75% of those voting to
vote in favour. Therefore, if more than 25% of those voting, vote against
Resolution 2, the warrants cannot be issued.
3) What will you do with the proceeds raised from the £5million?
a. The detailed use of the proceeds is currently under consideration and more
information on this will be made available to the public in due course
4) What has happened to the 400m shares issued in December? Why have there been
no Holdings Notices announced?
a. Holding Notices are only required to be issued where an investor holds at
least 3% of a company’s issued share capital. That the Company has not
received any such notices suggests that no investors with a notifiable holding
participated in the placing before Christmas.
5) Why is there no sign of forecasts in the market?
a. Currently. there are no analysts following the Company, nor has the Company
commissioned any third-party research to be produced as it would not be
appropriate at this early stage in the development of the Company’s
subsidiaries.
6) What is the purpose of raising further funds?
a. RMS do not have any reason to raise further funds at this time
7) What are the email details of the two new board members?
a. All questions can be sent to rms@investor-focus.co.uk. This mailbox has been
established to improve dialogue with shareholder queries and improve
Investor Relations
8) Why are two resolutions needed to issue shares?
a. The issue of shares is subject to the passing of an ordinary resolution by a
simple majority of shareholders. However, the ability to issue those shares
for cash, other than to existing shareholders in proportion to their holding in
the Company (known as pre-emption rights), requires the passing of a special
resolution to disapply those pre-emption rights.
9) What happens if resolutions 1 and 3 pass but 2 and 4 fail?
a. The Warrants connected with the recent placing cannot be issued as both
Resolutions 1 and 2 are needed for that purpose. The Company can issue
shares, for example under options schemes to reward employees, but cannot
issue shares for cash except to existing shareholders
10) Why do companies not issue shares to existing shareholders first?
a. This approach is time consuming and the costs are prohibitive with no
certainty that companies will secure the required funding if shareholders do
not take up their rights or entitlements (for example through an Open Offer
or Rights Issue);
11) What will happen if all these resolutions fail?
a. The Company currently has the authority to issue up to a further 172 mil
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