W.H. Ireland Group PLC Result of General Meeting and Total Voting Rights (4059J)
15 Agosto 2023 - 10:59AM
UK Regulatory
TIDMWHI
RNS Number : 4059J
W.H. Ireland Group PLC
15 August 2023
WH Ireland Group Plc
("WH Ireland" or the "Company")
Result of General Meeting and Total Voting Rights
Shareholder approval for GBP5m Placing and Share
Sub-division
WH Ireland is pleased to announce that, at the General Meeting
held earlier today, all resolutions were duly passed. Accordingly,
subject to Admission, the Company has raised gross proceeds of GBP5
million pursuant to the Placing and the Share Sub-division has been
approved.
Capitalised terms used but not otherwise defined in this
announcement shall have the meanings ascribed to such terms in the
Company's announcement at 7.00 a.m. on 28 July 2023, unless the
context requires otherwise.
Commenting, Phillip Wale, CEO said :
"I am grateful to both our existing and new shareholders in the
support shown for our GBP5m capital raise. I believe that we are in
a robust position from which to take advantage of improved market
conditions when they occur.
"The proceeds of the Placing bolster our regulatory capital and
together with the cost reductions identified, provide a stable
platform from which we can navigate through the challenging market
backdrop. The full benefit of the savings is anticipated to be
realised during the course of calendar year Q4 2023."
Admission and Total Voting Rights
F ollowing the General Meeting held earlier today, the Company
will issue 166,666,667 Placing Shares and 4,166,666 Fee Shares.
Application has been made to the London Stock Exchange for
admission of the New Ordinary Shares (including the Placing Shares
and Fee Shares) to trading on AIM. It is expected that Admission
will become effective and dealings in the New Ordinary Shares will
commence on AIM at 8.00 a.m. on 16 August 2023. The New Ordinary
Shares (including the Placing Shares and Fee Shares once issued)
will rank pari passu in all respects.
Following Admission, the total number of shares in the capital
of the Company in issue with voting rights will be 235,986,209
ordinary shares of 1 pence each. This 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
a change to their interest in, WH Ireland under the Financial
Conduct Authority's Disclosure Guidance and Transparency Rules.
Results of the meeting
Details of the results of the voting, by way of a poll vote, at
the General Meeting are set out below. Resolutions 1 to 3 are
ordinary resolutions and resolutions 4 to 5 are special
resolutions.
Resolution For Against
Votes % of votes Votes % of votes
cast cast
----------- ----------- ---------- -----------
1. To approve the Rule 9 waiver
pursuant to the City Code on
Takeovers and Mergers* 17,212,303 89.91% 1,931,216 10.09%
----------- ----------- ---------- -----------
2. To approve the sub-division
of the existing ordinary shares 50,850,820 96.34% 1,931,216 3.66%
----------- ----------- ---------- -----------
3. To authorise the directors
to allot shares for the purposes
of section 551 of the Companies
Act 2006 (the "Act") 50,851,183 93.79% 3,367,825 6.21%
----------- ----------- ---------- -----------
4. To empower the directors
to allot equity securities pursuant
to
section 570 of the Act as if
section 561 of the Act did not
apply 50,850,820 93.79% 3,368,188 6.21%
----------- ----------- ---------- -----------
5. To adopt new articles of
association of the Company 50,850,820 96.34% 1,931,216 3.66%
----------- ----------- ---------- -----------
* Resolution 1 was taken on a poll of Independent Shareholders
(as defined in the Circular) in accordance with the requirements of
the City Code.
Resultant holding of TFG Asset Management UK
As detailed in the Company's Circular, immediately following
Admission, the resultant aggregate interest of TFG Asset Management
UK LLP (in its capacity as discretionary investment manager, acting
on behalf of the Polygon Funds) in the ordinary shares in the
capital of the Company for the purpose of the City Code, is
91,466,742 ordinary shares, representing 38.76% of the Enlarged
Share Capital.
For further information please contact:
WH Ireland Group plc www.whirelandplc.com
Phillip Wale, Chief Executive
Officer +44(0) 20 7220 1666
Canaccord Genuity Limited www.canaccordgenuity.com
Emma Gabriel / Harry
Rees +44(0) 20 7523 8000
MHP whireland@mhgroup.com
Reg Hoare / Charles Hirst +44 (0) 20 3128 8793
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END
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August 15, 2023 09:59 ET (13:59 GMT)
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