Result of AGM and Capital Re-organisation

RNS Number : 6986Q

Kennedy Ventures PLC

08 November 2012

 



Kennedy Ventures plc

(the "Company")

Result of Annual General Meeting ("AGM") and Capital Re-organisation

The Company announces that all resolutions proposed at today's AGM were passed. 

As a result of the resolutions being passed the Company will, following the close of business today, complete the consolidation and sub-division of ordinary shares proposed in the notice of AGM sent to shareholders along with the annual report and accounts on 5 October 2012.  The consolidation record date is close of business on 8 November 2012.

In the consolidation, every 50,000 Ordinary Shares of £0.0001 will be consolidated into one ordinary share of £5 and each such share of £5 will be sub-divided into 500 New Ordinary Shares of 1 pence each.  Following the consolidation and sub-division, the Company's issued share capital will consist of 27,098,000 New Ordinary Shares of 1 pence each.  The Company expects these 27,098,000 new ordinary shares of 1 pence each in the Company to be admitted to trading on AIM on 9 November 2012.  Application has been made to AIM for the admission of these new ordinary shares and their ISIN is GB00B830HW33.

Fractions of a share arising during the consolidation will be aggregated and subdivided.  These New Ordinary Shares of 1 pence each arising from fractional entitlements will all be sold by the Company and the net proceeds of the sale will be distributed pro rata among those shareholders who would otherwise be entitled to such fractional entitlement save that any entitlement to a sum less than £3.00 shall not be so distributed, but shall be retained for the benefit of the Company.  It is expected that payments to shareholders in respect of fractions will be despatched on or around 19 November 2012.

From 9 November 2012, being the date of the listing of the New Ordinary Shares on AIM, existing Ordinary Share certificates will no longer be valid.  New Ordinary Share certificates will be dispatched on or around 16 November 2012 and CREST accounts will be credited with New Ordinary Shares on 9 November 2012.

From 9 November 2012, the total number of New Ordinary Shares in issue with voting rights in the Company following the consolidation and sub-division will be 27,098,000 New Ordinary Shares.   This figure (27,098,000) may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FSA's Disclosure and Transparency Rules.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Kennedy Ventures plc
Peter Redmond, Chairman	07718 660727
Cenkos Securities plc
Stephen Keys/Camilla Hume	020 7397 8900
Peterhouse Corporate Finance
John Levinson	020 7469 0935

 

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