Result of AGM

RNS Number : 0775K

Pires Investments PLC

27 August 2021

 

Pires Investments Plc

(the "Company")

Result of AGM

27 August 2021

The Company announces that at the Annual General Meeting, which was held earlier today, all resolutions were duly passed.

The results of the poll voting (which includes votes submitted by proxy) will be available shortly on the Company's website: https://piresinvestments.com/investors/

At the Annual General Meeting, the shareholders passed an ordinary resolution to approve the purchase by the Company of the following number of deferred shares in the capital of the Company (the "Buy-Back"), representing all outstanding deferred shares in the Company, pursuant to a share buy-back agreement to be entered into on or about the date hereof (the "Buy-Back Agreement"):

Class	Number	Nominal value per share
"A" deferred shares	136,171,197	5 pence
"B" deferred shares	55,570,856	4.9 pence
"C" deferred shares	2,321,659,864	0.099 pence

Under the provisions of the Company's articles of association, the Company has the power to buy back each class of deferred shares for 1 pence in aggregate per class. The Buy-Back will be funded out of the proceeds of a new issue of three new ordinary shares of 0.25 pence at a price of 1 pence per share to Nicholas Lee.

On the passing of the ordinary resolution at the Annual General Meeting, the Company will have the authority to enter into the Buy-Back Agreement. All deferred shares bought back by the Company will be immediately cancelled.

A copy of the Buy-Back Agreement is available for inspection on the Company's website (https://piresinvestments.com/investors/) and at its Registered Office.

Application has been made for the three new ordinary shares to be admitted to trading on AIM on or around 3 September 2021.

Following the Buy-Back, the Company will have in issue 153,642,209 ordinary shares of 0.25 pence each. The Company expects to complete the Buy-Back on or about 3 September 2021.

As announced on 30 July 2021, Peter Redmond has stepped down as Chairman of the Company and retired as a director following the conclusion of the AGM. The Board thanks Peter for his service.

For further information please contact:

Pires Investments plc Nicholas Lee, Director	Tel: [phone]
Nominated Adviser Cairn Financial Advisers LLP Liam Murray/Ludovico Lazzaretti	Tel: [phone]
Joint Broker Peterhouse Capital Limited Duncan Vasey/Lucy Williams	Tel: [phone] Tel: [phone]
Joint Broker Tennyson Securities Peter Krens	Tel: [phone]
Financial media and PR Yellow Jersey Sarah Hollins Henry Wilkinson Annabelle Wills	Tel: [phone]

Notes to Editors

About Pires Investments plc

Pires Investments plc (AIM: PIRI) is an investment company providing investors with access to a portfolio of next generation technology businesses with significant growth potential.

The Company is building an investment portfolio of high-tech businesses across areas such as Artificial Intelligence, Internet of Things, Cyber Security, Machine Learning, Immersive Technologies and Big Data, which the Board believes demonstrate evidence of traction and the potential for exponential growth, due to increasing global demand for development in these sectors.

For further information, visit: https://piresinvestments.com/.

 

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