23 Dec 2015 12:07
SnackTime plc ("SnackTime" or the "Company")
Result of Meeting and Update on Restructuring
The Company announces that at its General Meeting held earlier today, the two Resolutions put to the meeting were passed by shareholders on a poll.
Further to the Company's announcement on 11 December 2015 the Company confirms that Tranche 1 of the restructuring was completed on 17 December 2015.
Tranche 2, which included the raising of £575,000 new equity and the conversion of certain loan and other creditor obligations which were expected to complete on or around 24 December 2015, is now expected to complete on or around 31 December 2015. A further announcement will be prior to completion.
On 11 December 2015 the Company announced that the holders of the remaining £137,456 nominal of Loan Notes were to be offered conversion rights on the same terms. To date the holders of £55,230 nominal of this total have agreed to convert to equity at 10 pence per share. An announcement of the final conversion numbers will be made in January 2016.
As previously reported, the Company's shares continue to be suspended from trading on AIM. Further announcements will be made in due course.
Enquiries
Snacktime Tel no. 0208 879 8300
Jeremy Hamer
Michael Maltby
Westhouse Securities Tel no. 0207 601 6100
Tom Griffiths
Richard Johnson