Steppe Cement Regulatory News (STCM)

26 April 2024

Steppe Cement Limited

("Steppe Cement" or the "Company")

Result of EGM

Steppe Cement Limited is pleased to announce the result of the EGM held earlier today.

Shareholders approved the Special Resolution for a capital repayment of approximately 1.5 pence per ordinary share of no par value each, effected by way of Capital Reduction pursuant to Section 53(9A) of the Labuan Companies act 1990 (the "Capital Repayment"), with 99.97% of votes cast in favour.

The share capital of the Company will be reduced from USD73,760,924 (divided into 219,000,000 Ordinary Shares) to USD69,599,924 (divided into 219,000,000 Ordinary Shares), and that such reduction be effected by the capital repayment of USD4,161,000, which will be paid in GBP, and is expected to represent approximately 1.5 pence per ordinary share of no par value each, to Entitled Shareholders at the Record Date.

The number of shares outstanding will remain the same at 219,000,000.

The Capital Repayment is expected to be completed later in Q2 2024, with further announcements, including the Record Date, to be made in due course by the Company.

Terms used in this announcement, but which are otherwise undefined shall have the same meanings as set out in the Circular announced and published on 5 April 2024.

For further information, please contact:

The information contained within 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 by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.