Result of General Meeting

Location Sciences Group PLC

16 February 2024

 

This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310.  With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

16 February 2024

Location Sciences Group PLC

("Location Sciences" or the "Company" or the "Group")

Result of General Meeting

Location Sciences (AIM: LSAI) is pleased to announce that at the Company's General Meeting held earlier today, all resolutions proposed, including the special resolutions, were duly passed. Accordingly, the Proposals set out in the Admission Document are now expected to complete, conditional on Admission, on 19 February 2024.

Change of name

The Company's change of name to "Sorted Group Holdings Plc" and change of AIM ticker symbol to "SORT" will take place once Companies House has issued a new certificate of incorporation reflecting the change of name. The change of name is expected to become effective imminently and the Company will make a further announcement following the completion of the change of name.

Change of website

In order to reflect the Company's new name, the Company's website will be changed to www.sorted.com with effect from Admission. The information required pursuant to AIM Rule 26 will be available at this address.

Share Consolidation

As a result of the passing of the Resolutions, the Share Consolidation will become effective as of 6.00 p.m. on 16 February 2024 and every 625 Existing Ordinary Shares will be consolidated into one New Ordinary Share with a nominal value of 62.5p each. Accordingly, the New Ordinary Shares, including the Subscription Shares, the Remuneration Shares and the CLN Shares are expected to be admitted to trading on AIM with effect from 8.00 a.m. on 19 February 2024 under the new ISIN and SEDOL of GB00BPDX2041 and BPDX204 respectively.

Application for Admission and Total Voting Rights

Application has been made for the Enlarged Share Capital of 7,639,705 New Ordinary Shares to be admitted to trading on AIM and it is expected that Admission will become effective on 19 February 2024.

Following Admission, the Company will have 7,639,705 Ordinary Shares in issue, each with one voting right. There are no shares held in treasury. Therefore, the Company's total number of Ordinary Shares and voting rights will be 7,639,705. This figure may be used by shareholders from Admission 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 FCA's Disclosure Guidance and Transparency Rules.

Detailed results from the General Meeting

At the General Meeting held earlier today all resolutions were duly passed on a show of hands with the following table summarising proxy votes:

Resolution	Votes for	Votes against	Approval	Withheld
Ordinary Resolutions	Shares	Shares	%	Shares
1.   To approve the Acquisition under resolution 1	1,641,451,823	242,683	99.98	25,344
2.   To approve the Share Consolidation under resolution 2	1,641,146,113	548,393	99.96	25,344
3.   Authorise the Directors to allot the Remuneration Shares under resolution 3	1,641,153,906	527,528	99.97	38,416
Special Resolutions
4.   Authorise the Directors to allot the Equity Shares under resolution 4	1,641,322,007	362,489	99.98	35,354
5.   Change the name of the Company to Sorted Group Holdings Plc under resolution 5	1,641,401,823	282,673	99.98	35,354

The number of Existing Ordinary Shares in issue at the time of the General Meeting on 16 February 2024 was 2,647,587,500. A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes 'For' or 'Against' a resolution.

The same definitions apply throughout this announcement as those set out in the Admission Document published on 30 January 2024, unless the context requires otherwise. 

For further information please contact:

Location Sciences Group PLC                                                                           via Allenby Capital

Simon Wilkinson, Chairman

Allenby Capital Limited (Nominated Adviser)                                            Tel: [phone]

David Hart

Vivek Bhardwaj

 

END