Last checked at 22 Nov 2023 15:13
22 November 2023
RA INTERNATIONAL GROUP PLC
("RA International", "RA" or the "Company")
Capital Reduction - Result of General Meeting
RA International Group PLC (AIM: RAI), a specialist provider of complex and integrated remote site services to organisations globally, announced on 2 November 2023 that a shareholder circular ("Circular") containing a notice of general meeting (the "General Meeting") and Form of Proxy were posted to shareholders. The Circular set out the details of a proposal to reduce the Company's capital by the cancellation of the Company's share premium account in order to create distributable reserves (the "Capital Reduction").
The Capital Reduction was conditional, inter alia, upon the Company obtaining approval by shareholders at a General Meeting, and confirmation by the Court. The Company is pleased to announce that at its General Meeting held earlier, the Capital Reduction resolution put to Shareholders was duly passed.
The resolution was proposed as a special resolution. The proxy votes cast in respect of the resolution were as follows:
RESOLUTIONS | Votes For | % | Votes Against | % | Total Votes Cast | Votes withheld |
1. To approve the Capital Reduction | 147,676,460 | 99.98% | 24,789 | 0.02% | 147,701,249 | 11,190 |
A vote "Withheld" is not a vote in law and is not counted in the calculation of the percentage of shares voted "For" or "Against" any resolution.
The Company will now apply to the Court for confirmation of the Capital Reduction. The Capital Reduction will only become effective if the Court confirms that it is satisfied that the interests of any creditors (including contingent creditors) of the Company, whose debts remain outstanding on the date of the Court Order are registered and protected. This may require the Company to give undertakings to the Court to protect creditors.
EXPECTED TIMETABLE OF REMAINING PRINCIPAL EVENTS
Directions hearing | 8th December 2023 |
Final hearing and confirmation of the Capital Reduction by the Court | 19th December 2023 |
Capital Reduction becomes effective | 20th December 2023 |
The information communicated in this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended.
Enquiries:
RA International Group PLC Sangita Shah, Chair Soraya Narfeldt Chief Executive Officer
| Via Strand Hanson |
Strand Hanson (Nominated Adviser and Broker) Ritchie Balmer/James Spinney/David Asquith
| +44 (0)207 409 3494 |
About RA International
RA International is a leading provider of services to remote locations. The Company offers its services through three channels: construction, integrated facilities management and supply chain, and services two main client groups: humanitarian and aid agencies and western government organisations focusing on overseas projects. It has a strong customer base, largely comprising UN agencies, UK and US government departments and global corporations.
The Company provides comprehensive, flexible, mission critical support to its clients enabling them to focus on the delivery of their respective businesses and services. Focusing on integrity and values alongside making on-going investment in its people, locations and operations has over time created a reliable and trusted brand within its sector.