5 Jul 2022 10:48
5 July 2022
Immediate Acquisition Plc
("IME", the "Group" or the "Company")
Result of Annual General Meeting
Immediate Acquisition Plc (AIM: IME) announces that at its Annual General Meeting ("AGM") held earlier today, all resolutions were passed with the requisite majorities. Resolutions 1-8 (inclusive) were passed as ordinary resolutions. Resolutions 9, 10 and 11 were all in relation to the Directors' authority to allot shares, this matter was covered in the resolutions put to the general meeting held on 1 July and therefore the Directors decided to withdraw resolutions 9, 10 and 11 from the AGM.
Voting was conducted by way of a poll and the results are set out below:
Resolution | Votes for | % of votes | Votes Against | % of votes | Withheld | Total Votes |
1. To receive and adopt the Company's annual accounts for the year ended 31 December 2021 together with the Directors' report and auditor's report. | 7,678,780 | 100.00% | Nil | 0.00% | Nil | 7,678,780 |
2. To receive and approve the Directors' remuneration report for the year ended 31 December 2021. | 7,678,780 | 100.00% | Nil | 0.00% | Nil | 7,678,780 |
3. To re-elect Tim Hipperson as a director of the Company. | 7,678,780 | 100.00% | Nil | 0.00% | Nil | 7,678,780 |
4. To re-elect Mark Horrocks as a director of the Company. | 3,078,780 | 100.00% | Nil | 0.00% | Nil | 3,078,780 |
5. To re-elect Simon Leathers as a director of the Company. | 7,678,780 | 100.00% | Nil | 0.00% | Nil | 7,678,780 |
6. To re-appoint the auditors, Nexia Smith & Williamson. | 7,678,780 | 100.00% | Nil | 0.00% | Nil | 7,678,780 |
7. To authorise the Directors to fix the remuneration of the auditors. | 7,678,780 | 100.00% | Nil | 0.00% | Nil | 7,678,780 |
8. To affirm the sale of the Company's loan to Sprift Technologies Limited, at face value, for a total cash consideration of £1.05 million to Mark Horrocks, Non-Executive Director of the Company, for the purposes of section 190 of the Companies Act 2006. | 3,078,780 | 100.00% | Nil | 0.00% | Nil | 3,078,780 |
9. Withdrawn | N/A | N/A | N/A | N/A | N/A | N/A |
10. Withdrawn | N/A | N/A | N/A | N/A | N/A | N/A |
11. Withdrawn | N/A | N/A | N/A | N/A | N/A | N/A |
For further information please contact: | |
Immediate Acquisition Plc Tim Hipperson, Non-executive Chairman Simon Leathers, Non-executive Director | Tel: +44 (0) 203 515 0233 |
SPARK Advisory Partners Limited (Nomad) Mark Brady Neil Baldwin | Tel: +44 (0) 203 368 3550 |
SP Angel Corporate Finance LLP (Broker) Abigail Wayne Matthew Johnson | Tel: +44 (0) 207 470 0470 |
Buchanan Communications Chris Lane / Kim van Beeck / Jack Devoy | Tel: +44 (0) 207 466 5000 |
Information on Immediate Acquisition plc
Immediate Acquisition plc is currently an AIM Rule 15 cash shell. At a general meeting on 1 July 2022, shareholders approved the acquisition of Fiinu Holdings Limited ("Fiinu Holdings") (the "Acquisition"), a fintech company and creator of the Plugin Overdraft®, which is classified as a reverse takeover under AIM Rule 14. The Acquisition remains conditional, inter alia, upon Fiinu's subsidiary, Fiinu 2 Ltd ("Fiinu 2"), receiving confirmation of its Part 4A deposit taking licence from the UK regulators.
Information on Fiinu
Fiinu Holdings, founded in 2017, is a technology platform and provider of consumer banking products.
Fiinu is comprised of two innovative businesses: Fiinu 2, which is in the final stages of obtaining Part 4A Permission from the UK regulators and will offer the group's flagship product, the Plugin Overdraft®, and Fiinu Ltd, a provider of financial technology and alternative data solutions.
Fiinu's Plugin Overdraft® is an unbundled overdraft solution, whereby Fiinu can provide its customers with an overdraft facility without them having to switch their current account with their present bank, giving customers access to affordable credit. Importantly, an overdraft does not negatively impact a consumer's credit score and helps avoid expensive "payday lenders", giving consumers the opportunity to build their credit rating.
Fiinu Ltd is the group's technology arm which will manage and develop the group's platform utilising data insights and analytics.