Result of General Meeting

RNS Number : 9821W

NetScientific PLC

24 August 2020

 

NetScientific plc

("NetScientific" or the "Company")

Result of General Meeting

NetScientific plc (AIM:NSCI), the transatlantic healthcare IP commercialisation group, is pleased to announce at its General Meeting held earlier today all resolutions were duly passed.

Accordingly, the Company has today authorised:

1.  a capital reorganisation which has the effect of consolidating ten Existing Ordinary Shares into one New Ordinary Share;

2.  the issue of 3,538,455 New Ordinary Shares at an Issue Price of 65p pence raising gross proceeds of approximately £2.3 million through a placing (the "Placing") with institutional and other investors;

3.  the issue of 3,521,480 New Ordinary Shares to Futura Messis Group Ltd pursuant to the acquisition of EMV Capital Ltd (the "Acquisition"); and

4.  The adoption by the Company of the new Articles of Association.

The full details of the Acquisition, Placing and Capital Reorganisation are set out in the announcement dated 5 August 2020.

John Clarkson, Chairman, said "the Board of NetScientific want to express their gratitude to shareholders for their overwhelming vote of support, enabling the transformation of the business, which is now positioned for future success".

Admission to Trading on AIM

Further to the announcement on 5 August 2020, application for admission to trading of the New Ordinary Shares has been made and it is anticipated that admission will take place at 8.00 a.m. on 25 August 2020 ("Admission").

In accordance with the provisions of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority, the Company confirms that, following the Acquisition, Placing and Capital Reorganisation, its issued share capital will comprise 14,916,122 New Ordinary Shares upon Admission. All of these New Ordinary Shares have equal voting rights and none of the New Ordinary Shares are held in treasury. The total number of voting rights in the Company will therefore be 14,916,122 upon Admission.

Unless otherwise defined, terms used in this announcement shall have the same meanings as those defined in the announcement dated 5 August 2020.

The full details of the votes cast are as follows.

		Votes Cast			% of Votes Cast
Resolution No.	Resolution Text	For	Against		For	Against
Special Resolution 1	To adopt the new Articles of Association of the Company	23,518,025	421,879		98.2%	1.8%
Ordinary Resolution 2	To approve the proposed sub-division	23,508,223	431,681		98.2%	1.8%
Ordinary Resolution 3	To approve the proposed consolidation	23,511,134	428,770		98.2%	1.8%
Ordinary Resolution 4	To approve the waiver granted by the Panel on Takeovers and Mergers of any requirement under Rule 9 on the Concert Party to make a general offer to shareholders	23,513,842	425,777		98.2%	1.8%
Ordinary Resolution 5	To authorise the Directors to allot shares in the Company in respect of the Consideration and Placing Shares	23,446,323	493,581		97.9%	2.1%
Ordinary Resolution 6	To authorise the Directors to allot shares in the Company generally	23,446,038	493,581		97.9%	2.1%
Special Resolution 7	To disapply statutory pre-emption rights in respect of the Placing Shares	23,446,038	493,581		97.9%	2.1%
Special Resolution 8	To disapply statutory pre-emption rights generally	23,446,038	493,581		97.9%	2.1%

# # #

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. Following the publication of this announcement, this inside information is now considered to be in the public domain.

For more information, please contact:

NetScientific 

Ilian Iliev, CEO  Tel: [phone]

WH Ireland (NOMAD, Financial Adviser and Broker)

Chris Fielding / Jessica Cave / Darshan Patel  Tel: [phone]

MO PR ADVISORY (Press Contact)

Mo Noonan  Tel: [phone]

About NetScientific

NetScientific PLC is a transatlantic healthcare IP commercialisation Group focused on technologies and companies that have the potential to treat chronic disease and significantly improve the health and well-being of people.

For more information, please visit the website at      www.NetScientific.net

 

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ROMSEIFSLESSEEA