RE: Sharkie pooinvestor ipa9 Jun 2021 08:26
The Company announces that it and Remote Monitored Systems plc ("RMS") (AIM: RMS) have on 08 June 2021 entered into a share purchase agreement ("SPA") with the founders of Gyrometric Systems Limited ("Gyrometric"), being David Orton, Dr Paul Orton and Dr Janet Poliakoff (the "Founders") for the return of control of Gyrometric to the Founders. Under the terms of SPA, the existing shareholders' agreement between the Founders, Braveheart and RMS will be terminated, there will be a reorganisation of the share ownership of Gyrometric (the "Reorganisation") and both RMS and Braveheart will write off their existing loans to Gyrometric, of which Braveheart's loan totals £39,200.
Following the Reorganisation, the Founders will have a 75.1% interest in Gyrometric and Anthony Ferguson, a non-executive director, will retain 3.47%. Braveheart's current 19.5% interest in Gyrometric will reduce to 6.43% following the Reorganisation and RMS's interest will reduce to 15%.