30 Dec 2021 12:14
Electra Private Equity PLCResults of General Meeting
30 December 2021
The Board of Electra Private Equity PLC (the "Company") is pleased to announce that at its general meeting held today (the "General Meeting") the resolutions relating to:
1. the cancellation of the listing of the Electra Shares on the Official list, removal of the Electra Shares from trading on the Main Market and admission of the Electra Shares to trading on AIM (the "Delisting and Admission Resolution");
2. approval of the settlement of Ian Watson's entitlement under the Hotter MIP by issuing new Electra Shares to him, as set out in section 4 of Part II of the Circular dated 9 December 2021 which was sent to shareholders (the "Ian Watson MIP Settlement Resolution");
3. adoption of the Unbound LTIP, the proposed principal terms of which are set out in section 4 of Part V of the Circular, with effect from Admission (the "LTIP Resolution"); and
4. the approval of the adoption of the New Articles of the Company with effect from Admission, so that the Company has articles of association that are suitable for a company admitted to AIM (the "New Articles Resolution")
were all passed, resolutions 1 and 4 as special resolutions and resolutions 2 and 3 as ordinary resolutions.
The Delisting and Admission Resolution, the Ian Watson MIP Settlement Resolution, the LTIP Resolution and the New Articles Resolution were voted on by way of a poll and the results are set out below. As all of the resolutions have been duly passed by the requisite majority, the Delisting and Admission Resolution, the Ian Watson MIP Settlement Resolution, the LTIP Resolution and the New Articles Resolution are all carried.
Result of poll
Resolution | Votes For1 | %2 | Votes Against | % | Votes total | Proportion of the issued share capital of the Company represented by all votes (%)3 | Votes withheld4 |
Delisting and Admission Resolution | 22,691,416 | 99.92% | 17,069 | 0.08% | 22,708,485 | 58.27 | 885 |
Ian Watson MIP Settlement Resolution, | 22,225,755 | 99.91% | 20,493 | 0.09% | 22,246,248 | 57.08 | 463,122 |
LTIP Resolution | 22,225,374 | 99.88% | 27,393 | 0.12% | 22,252,767 | 57.10 | 456,603 |
New Articles Resolution | 19,306,469 | 85.03% | 3,399,950 | 14.97% | 22,706,419 | 58.26 | 2,951 |
1. Any proxy votes which were at the discretion of the chairman of the General Meeting have been included in the "For" total.
2. Percentages are expressed as a proportion of the total votes cast.
3. As at the time of the meeting, there were 38,973,329 Electra Shares in issue and this figure has been used to calculate the percentage of the issued share capital of the Company represented by all votes. The Company held no shares in treasury.
4. A vote withheld is not a vote in law and is not counted towards the votes "For" or "Against" the Resolutions, nor in the calculation of the total votes cast.
Following the passing of the Resolutions, the Company expects to make the requisite applications in respect of the Delisting and the AIM Admission. The Delisting is expected to become effective at 8.00 a.m. on 31 January 2022 and the AIM Admission is expected to become effective at 8.00 a.m. on the same date, 31 January 2022.
Unless otherwise defined herein, capitalised terms in this announcement have the same meaning as in the shareholder circular published on 9 December 2021 available on the Company's website at www.electraequity.com.
The results of the General Meeting (including this information) will shortly be available on the Company's website at www.electraequity.com.
A copy of the Resolutions will shortly be submitted to the Financial Conduct Authority's Electronic Submission Service and can then be viewed on the National Storage Mechanism (NSM) at https://data.fca.org.uk/#/nsm/nationalstoragemechanism
-ENDS-
For further information please visit www.electraequity.com or contact:
Gavin MansonChief Financial and Operating OfficerElectra Private Equity PLC17 Old Park LaneLondon W1K 1QTTel: 44 (20) 3874 8300