Holders need to vote against delisting by noon on 9th December!21 Nov 2022 17:58
Received the following message in my HL account at 4.58pm today:
“What is happening?
The Board of Parsley Box Group plc has announced proposals to cancel the company’s ordinary shares from trading on AIM (Alternative Investment Market). If approved, it is expected that the company’s shares will be delisted with effect from the close of business on 21 December 2022.
Why is this happening?
The Board has undertaken an assessment of the various potential sources of capital available to the Company to fund its medium term growth plans and, in doing so, has reviewed and evaluated the benefits and drawbacks for the Company and its Shareholders in retaining the admission to trading of the Ordinary Shares on AIM. This review has focussed on a comparative assessment of the opportunities for the Company to raise further growth capital in the public and private markets respectively in the next 12 months and included, amongst other matters, assessment of the public market liquidity and valuation volatility of the Ordinary Shares and a cost versus benefit analysis of maintaining the Company’s status as a publicly traded company. As a result of this review, the Directors have concluded that the Cancellation and Re-registration are in the best interests of the Company and its Shareholders as a whole. Further details of the background to and reasons for the Cancellation and Re-registration are set out below.” (Source: https://corporate.parsleybox.com/investors/documents/ 18 November 2022)
What action do I need to take?
For the delisting to happen, it must be approved at a General Meeting to be held on 14 December 2022. Under AIM Rules this requires the consent of at least 75% of votes cast by shareholders voting at the EGM.
If you would like to submit a vote for or against the resolution to delist the shares, please provide us with your voting instruction by noon on Friday 9 December 2022 by logging into your account online at hl.co.uk and clicking on your Fund & Share Account in the ‘My Accounts’ section of our website.
Please then select the dark blue Corporate Actions icon alongside your Parsley Box Group plc shares and follow the online instructions provided.
If you wish to sell your holding before the proposed listing cancellation you must do so before close of business on Wednesday 21 December 2022. The trade will be placed in accordance with our terms and conditions and subject to the standard stockbrokers commission rates.
If you wish to maintain your holding you need take no action. You should note that following the cancellation you may have difficulty selling this investment at a reasonable price and, in some circumstances, it may be impossible to sell it at any price.”
The BOD (and friends) need to really get buying between now and 9th December then to make sure they have enough shares! The question is how high are they prepared to pay to prize them from us pi’s?
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