Ouch but not dead28 Nov 2018 19:16
SA
23 November 2018
23 November 2018
RM2 International S.A.
("RM2" or the "Company")
Share Capital Restructuring, Placing and Notice of EGM
RM2 today announces a restructuring of its share capital (including a 200:1 Share Consolidation) and a conditional Placing of 12,335,162 new Ordinary Shares following such Restructuring at a Placing Price of 105 pence each to raise US$16,837,500 million before expenses
A circular including a Notice of General Meeting will be posted to Shareholders (the "Circular") on Monday, November 26, 2018 to convene the necessary general meeting of the Company (the "General Meeting") to approve the Resolutions to effect the Restructuring and authorize the Placing. The General Meeting is to be held at 5 Rue de la Chapelle, Luxembourg, L-1325, Luxembourg at 10.30 a.m. GMT / 11.30 a.m. CET on 11 December 2018.
A copy of the Circular and Notice of General Meeting will also be available to view on the Company's website www.rm2.com.
Original Investors holding in aggregate more than two-thirds of the existing voting rights of the Company have undertaken to, or have indicated their intention to, vote in favour of the Resolutions. Accordingly, it is anticipated that the Resolutions will be approved at the General Meeting and therefore the Restructuring and Placing will proceed.
An extract of selected parts of the Circular is copied out below along with an indicative timetable of principal events related to the Restructuring and Placing. The definitions that apply throughout this announcement can be found at the end of this announcement.
For further information:
RM2 International S.A.
+44 (0)20 7638 9571
Kevin Mazula, Chief Executive Officer
Jean-Francois Blouvac, Chief Financial Officer
Strand Hanson Limited (Nominated & Financial Adviser and Broker)
+44 (0)20 7409 3494
James Spinney / Ritchie Balmer / James Bellman
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 ("MAR").
Notes to Editors
RM2 International S.A. specialises in smart pallet development, manufacture, supply and management to establish a leading presence in global pallet supply and improve the supply chain of manufacturing and distribution businesses through the effective and efficient use and management of composite pallets. It is quoted on the AIM market of the London Stock Exchange under the symbol RM2.L. For further information, please visit www.rm2.com
Dear Shareholder,
Restructuring of share capital (including 200:1 Share Consolidation) and conditional Placing of 12,335,162 new Ordinary Shares following such Restructuring at a Placing Price of 105 pence each to raise US$16,837,500 before expenses
Introduction
Your Board announced on 29 March 2018 that the Company had conditionally raised US$36 million (before fees and expenses) by way