13 Apr 2018 13:33
13 April 2018
RM2 International S.A.
Result of EGM, Trading Update
and Total Voting Rights
Results of EGM
RM2 International S.A. ("RM2" or the "Company"), the sustainable smart pallet innovator, is pleased to announce that all of the resolutions put to Shareholders concerning the Placing, the Conversion and the Open Offer (as announced on 29 March 2018) at the Company's Extraordinary General Meeting of Shareholders held today were duly passed.
Accordingly, the Company has now completed the issuance of 1,279,049,295 First Tranche Placing Shares at the Placing Price, raising gross proceeds of US$18,162,500, and the issuance of 3,156,907,940 Conversion Shares.
As noted in the Company's 29 March 2018 announcement, the Board intends to launch shortly an open offer to all Shareholders at the Placing Price of up to the pound sterling equivalent of €5.0 million. Further information on the Open Offer will be made available in due course.
Trading Update
The Company is pleased to also announce it has entered into a Phase 1 agreement for an initial deployment of RM2 ELIoT pallets through June 30, 2018 with a Fortune 500 company in North America following a year-long trial with this blue-chip customer's supplier network.
In addition, the Company has also completed a major trial with a North American company and discussions on a large-scale implementation are expected to commence. The Company has also expanded ongoing trials with other major US-based customers.
Total Voting Rights
Application has been made for the First Tranche Placing Shares and the Conversion Shares, accounting for, in aggregate, 4,435,957,235 new Ordinary Shares, to be admitted to trading on AIM, which is expected to become effective on or around 19 April 2018. Following the issue of the First Tranche Placing Shares and the Conversion Shares, the Company's issued share capital is comprised of 4,843,019,891 Ordinary Shares, of which 2,916,334 Ordinary Shares are held by the Company as non-voting treasury stock ("Treasury Shares").
The total number of voting rights in the Company is calculated as the number of outstanding Ordinary Shares, less the Treasury Shares, less the Ordinary Shares not able to be voted on due to restrictions applicable to certain holders as specified in the Company's Articles of Association, which results in a total voting rights figure of 3,237,160,379. Shareholders may use this figure of 3,237,160,379 as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
Unless otherwise defined, capitalised terms in this announcement are as defined in the Company's announcement, and the circular posted to Shareholders, both dated 29 March 2018.
For further information:
RM2 International S.A. | +44 (0)20 7638 9571 |
Kevin Mazula, Chief Executive Officer Jean-Francois Blouvac, Chief Financial Officer | |
Strand Hanson Limited (Nominated & Financial Adviser and Broker) | +44 (0)20 7409 3494 |
James Spinney Ritchie Balmer James Bellman | |
Citigate Dewe Rogerson (Financial PR) | +44 (0)20 7638 9571 |
Simon Rigby Ellen Wilton |
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
Notes to Editors
RM2 International S.A. specialises in pallet development, manufacture, supply and management to establish a leading presence in global pallet supply and improve the supply chain of manufacturing and distribution businesses through the effective and efficient use and management of composite pallets. It is quoted on the AIM market of the London Stock Exchange under the symbol RM2.L. For further information, please visit www.rm2.com