Result of General Meeting and Issue of Equity

RNS Number : 1185N

Zenergy Power PLC

25 September 2012

 



25 September 2012

Zenergy Power Plc

(to be renamed Synety Group plc)

(the "Company")

Result of General Meeting

and

                                                                         Issue of Equity                                          

The Company is pleased to announce that at the general meeting held earlier today, all resolutions put to shareholders were duly passed.

Accordingly, subject to admission of the enlarged share capital to trading on AIM ("Admission"), the acquisition of Synety Limited ("Acquisition") has now been completed.

Furthermore, the change of company name to Synety Group plc was also approved, as was the 1 for 20 share consolidation ("Share Consolidation"). The Share Consolidation will be effective as from 6 p.m. this evening and the name change will be effective once the certificate has been delivered to Companies House which is expected to occur later today. As from Admission, the Company's ticker will be SNTY.L and the ISIN will be GB00B4XS5145.

As a result of the above, 1,477,106 new ordinary shares of 20 pence each ("Ordinary Shares") have been issued and allotted as the initial consideration for the Acquisition. Application has been made for 4,930,075 Ordinary Shares to trading on AIM, comprising of 1,477,106 Ordinary Shares in relation to the initial consideration, and 3,452,969 existing Ordinary Shares (post consolidation). Admission is expected to occur at 8 a.m. on 26 September 2012. At Admission, the Company will have 4,930,075 Ordinary Shares in issue. This above figure 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 change to their interest in, the Company, under the FSA's Disclosure and Transparency Rules.

Simon Cleaver, Chairman of the Company, commented:

"We are delighted to have received overwhelming support from the shareholders for this acquisition, which represents a major change of direction. We now look forward to growing Synety rapidly and maximising the commercial potential of its cloud-based software and communications technology."

For further information please contact:

Simon Cleaver	Zenergy Power plc	[phone]
Charlotte Stranner/ Stuart Andrews	finnCap	[phone]
David Bick/Mark Longson	Square1 Consulting	[phone]

 

END

 

 

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