PeerTV PLC Result of General Meeting (2950E)
03 Novembro 2015 - 5:00AM
UK Regulatory
TIDMPTV
RNS Number : 2950E
PeerTV PLC
03 November 2015
PeerTV plc
("PeerTV" or "the Company")
Share Consolidation General Meeting
PeerTV plc (the "Company") is pleased to announce that at the
general meeting held at 5.15 p.m. today that all the resolutions
were duly passed relating to the share consolidation and the
disapplication of statutory pre-emption rights. A shareholder
committee has been formed to discuss with management the Group's
future development plans and alternative fundraising strategies. In
addition, Kavi Dhana and Leon Hogan will be appointed to the board
subject to completion of normal review procedures.
Commenting on the meeting, Eitan Yanuv, Chairman said "I am glad
that the resolutions have been passed addressing the immediate
short term needs of the Company and welcome the supportive input of
the shareholders to the future of the Group."
Effect of the Proposals
As a result, each existing ordinary share of 0.01 pence will be
subdivided into one ordinary share of 0.00001 pence each and one
subordinated "C" share of 0.00999 pence each ("Subordinated 'C'
Share"). Second, every 1,000 ordinary shares of 0.00001 pence each
resulting from such subdivision being consolidated into one new
ordinary share of 0.01 pence ("New Ordinary Share").
The New Ordinary Shares arising on implementation of the share
consolidation have the same rights as the existing ordinary shares,
including in respect of voting rights, entitlement to dividends and
other rights. Further (and ignoring the effect of fractional
entitlements), although the share consolidation will reduce the
number of ordinary shares in the capital of the Company held by
each Shareholder by a factor of 1,000, the share consolidation
should not, by itself, affect the market value of their
shareholding. The Subordinated 'C' Shares carry no rights as to
voting or dividends and would be of no economic value.
The New Ordinary Shares are expected to be admitted to AIM at 8
a.m. on 04 November 2015 with CREST accounts credited as early as
practicable on that date. Following the Share Consolidation, the
Company's new SEDOL code will be BYZ9Z48 and its new ISIN code will
be GB00BYZ9Z481.
Further enquiries:
PeerTV Plc
Eitan Yanuv, Chairman
Tel: +972 974 07315
ZAI Corporate Finance Limited
Tim Cofman / Richard Morrison
Tel: +44 20 7060 2220
Daniel Stewart & Company plc
David Coffman
Tel: +44 207 7766550
This information is provided by RNS
The company news service from the London Stock Exchange
END
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