Result of General Meeting

Sondrel (Holdings) plc

30 May 2024

 

30 May 2024

Sondrel (Holdings) plc

("Sondrel", the "Company" and together with its subsidiaries the "Group")

Result of General Meeting

Sondrel (AIM: SND), a leading provider of ultra-complex chips for leading global technology brands, announces that all three resolutions, as set out in the notice of General Meeting published on 14 May 2024 (the "Notice"), put to shareholders at the Company's General Meeting today were duly passed on a poll. Resolutions numbered 1 and 2 in the Notice were passed as ordinary resolutions and resolution numbered 3 in the Notice was passed as a special resolution.

The voting results will be made available on the Company's website shortly at https://ir.sondrel.com/investors/shareholder-information#notices

As announced on 29 May 2024, the  subscription by ROX Equity Partners Limited ("ROX") for 56,254,000 new ordinary shares of £0.001 each in the capital of the Company ("New Ordinary Shares") at an issue price of 10 pence per New Ordinary Share  ("Subscription") remains conditional, inter alia, on approval by the UK secretary of state of ROX's proposed investment in the Company as required by the National Security and Investment Act 2021 ("NSIA Approval").

The conversion of the ROX Loans (as defined in the Circular sent to shareholders with the Notice) into a total of 28,746,000 New Ordinary Shares at an issue price of 10 pence per New Ordinary Share can take place at the discretion of ROX or, if earlier, automatically on admission of the 56,254,000 New Ordinary Shares to be issued pursuant to the Subscription. If the NSIA Approval is not obtained, ROX will have the option to convert the ROX Loans but will not acquire any further New Ordinary Shares pursuant to the Subscription.

Sondrel confirms that the NSIA Approval was not received prior to the General Meeting. As such, it is currently anticipated that admission of the New Ordinary Shares will take place after 31 May 2024, but prior to the agreed long stop date of 8:00 am on 13 June 2024.

A further announcement in connection with the status of the NSIA Approval, together with an updated admission date, will be made in due course as and when appropriate.

For further information:

Sondrel (Holdings) plc	Via Buchanan
Graham Curren, CEO	Tel: [phone]
Nick Stone, Interim CFO
Cavendish Capital Markets Limited	Tel: [phone]
Ben Jeynes / Katy Birkin / George Lawson - Corporate Finance
Michael Johnson - Sales
Buchanan Communications	Tel: [phone]
Chris Lane / Stephanie Whitmore / Abby Gilchrist	[e-mail]

About Sondrel

Sondrel is a UK-based fabless semiconductor company specialising in high end, complex digital Application Specific Integrated Circuits (ASICs) and System on Chips (SOCs). It provides a full turnkey service in the design, prototyping, testing, packaging and production of ASICs and SoCs.

 The Company is one of only a few companies capable of designing and supplying the higher-spec chips built on the most advanced semiconductor technologies, selling into a range of hyper growth end markets such as high-performance computing, automotive, artificial intelligence, VR/AR, video analytics, image processing, mobile networking and data centres.  Sondrel designs have enabled products by leading technology brands including Apple (iPhone), Sony (PlayStation), Meta's (Oculus), Samsung, Google and Sony smartphones, JVC (prosumer camcorders), Tesla and Mercedes-Benz cars.

 Sondrel is well-established, with a 20-year track record of successful delivery, supported by long standing ecosystem partnerships including Arm, TSMC and Samsung. Headquartered in the UK, Sondrel has a global presence with offices in UK, USA, China, India and Morocco.

For more information please visit: ir.sondrel.com.

 

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