Last checked at 27 Apr 2016 11:33
27 April 2016
Maintel Holdings Plc ("Maintel" or the "Company")
Result of General Meeting
Maintel (AIM:MAI), is pleased to announce that all the Resolutions put to Shareholders at the General Meeting of the Company held earlier today were duly passed. The Resolutions were required to approve, inter alia, the acquisition of the Azzurri Communications Group (the "Acquisition") for an enterprise value of £48.5 million together with the issue of new ordinary shares in the Company to raise gross proceeds of £24.0 million and the adoption of new articles of association of the Company, as announced by the Company on 8 April 2016.
As Shareholder approval has now been received, as required under Rule 14 of the AIM Rules, the admission of the Company's Existing Ordinary Shares to trading on AIM will be cancelled (immediately prior to Admission) and the admission of the Enlarged Share Capital to trading on AIM and dealings in such Ordinary Shares will take place at 8.00 a.m. on 28 April 2016 ("Admission").
Following Admission, the total number of Ordinary Shares in issue will be 14,197,059. There are no shares held in treasury. Accordingly, the total number of voting rights in the Company on Admission will be 14,197,059. This figure may be used by Shareholders as the denominator for the calculations to determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.
Subject to the satisfaction or waiver (if applicable) of any outstanding conditions, completion of the Acquisition is expected to occur on 4 May 2016.
Significant Shareholders
Upon Admission, the holdings of the significant shareholders of the Company will be as follows:
Name | Number of Ordinary Shares | % of the Enlarged Share Capital |
J D S Booth | 3,331,924 | 23.5% |
A J McCaffery(1) | 2,198,636 | 15.5% |
J A Spens | 2,088,314 | 14.7% |
Hargreave Hale Limited(2) | 2,462,340 | 17.3% |
Herald Investment Trust(3) | 804,217 | 5.7% |
(1) 2,190,545 of these Ordinary Shares have been pledged by Mr McCaffery as security against a loan, as announced on 20 April 2016.
(2) 1,457,000 of these Ordinary Shares are held for unit trusts operated by Marlborough Fund Managers Ltd, for whom Hargreave Hale Limited manages the investments, on a discretionary basis.
(3) John Booth is a shareholder of Herald Investment Trust plc.
For further information, please contact:
Maintel Holdings Plc Eddie Buxton Mark Townsend
| +44 (0)344 871 1122 |
finnCap (Nomad and Broker) Jonny Franklin-Adams Emily Watts Kate Bannatyne
| +44 (0)20 7220 0500 |
Oakley Capital (Financial Adviser) Christian Maher Zishaan Arshad Victoria Boxall
| +44 (0)20 7766 6900 |
Defined terms used in this announcement will have the meaning (unless the context otherwise requires) as set out in the Admission Document which is available on the Company's website www.maintel.co.uk. This announcement should be read in conjunction with the Admission Document published by the Company on 8 April 2016.