Last checked at 20 Nov 2014 15:38
20 November 2014
PINNACLE TECHNOLOGY GROUP PLC
("Pinnacle" or the "Company")
RESULT OF GENERAL MEETING
Pinnacle is pleased to announce that at the General Meeting held earlier today, the Resolutions proposed in connection with the Placing and Open Offer were passed by Shareholders.
Accordingly, application has been made to AIM for the admission of 8,684,147 new Ordinary Shares issued pursuant to the Placing and Open Offer, such admission being expected on 21 November 2014. The Open Offer Shares, when issued and fully paid, will rank pari passu in all respects with the existing Ordinary Shares of 0.1 pence each.
The new Ordinary Shares (in uncertificated form) are expected to be credited to CREST accounts on 21 November 2014 and definitive share certificates for the new Ordinary Shares (in certificated form) are expected to be despatched to certificated shareholders by 1 December 2014.
The following table sets out the Directors' shareholdings and percentage interests in the issued share capital of the Company following Admission, including shares taken up by Directors in the Open Offer:
Director | Number of Existing Ordinary Shares | % of Existing Ordinary Shares | Number of Placing Shares subscribed for | Number of Open Offer Shares subscribed for | Number of Ordinary Shares following the Placing and Open Offer | % of Ordinary Shares of Enlarged Issued Share Capital |
James Dodd | 1,512,308 | 4.05% | 769,230 | 800,000 | 3,081,538 | 6.70% |
Thomas Black | 2,147,737 | 5.75% | 1,538,461 | - | 3,686,198 | 8.01% |
Nicholas Scallan | 270,019 | 0.72% | 230,769 | 14,083 | 514,871 | 1.12% |
Following Admission of the new Ordinary Shares and in accordance with Disclosure and Transparency Rules, the Company's issued voting share capital will be comprised of 46,018,435 Ordinary Shares of 0.1 pence each.
The above figure may be used by shareholders as a denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Pinnacle under the FCA's Disclosure and Transparency Rules.
Enquiries:
Pinnacle Technology Group plc Nicholas Scallan, Chief Executive James Dodd, Non-executive Chairman
| 020 8185 6393 |
N+1 Singer Ben Wright Richard Salmond
| 020 7496 3000 |
Beattie Communications Chris Gilmour Neil McDonald David Walker | 0844 842 5490 07730 415 036 01698 787 855 01698 787 848 |