Litebulb Group Limited Notice of AGM and proposed capital reorganisation (4034N)

TIDMLBB

RNS Number : 4034N

Litebulb Group Limited

18 May 2015

LITEBULB GROUP LIMITED

("LiteBulb" or the "Company")

Notice of AGM and proposed capital reorganisation

LiteBulb (AIM: LBB), the branded product developer, announces that the Notice of Annual General Meeting (the "Notice") has been sent to shareholders today, containing details of a proposed capital reorganisation. The AGM will be held at the offices of Fladgate LLP at 16 Great Queen Street, London WC2B 5DG on 4 June 2015 at 10.00 a.m. Copies of the Notice will be available on the Company's website www.litebulbgroup.com.

In addition to the normal business of the Annual General Meeting ("AGM") the Notice also includes resolutions pertaining to a reorganisation of the Company's issued share capital by way of a consolidation (the "Capital Reorganisation").

It is intended that the following amendments to the Company's share capital will take place:

-- every 50 existing ordinary shares of no par value ("Existing Ordinary Shares") in the capital of the Company will be consolidated into one ordinary share of no par value in the capital of the Company ("New Ordinary Shares"); and

-- any fractional entitlements arising as a result of the consolidation will be dealt with in accordance with article 50.2 of the Company's articles of association, pursuant to which any New Ordinary Shares in respect of which there are fractional entitlements will be aggregated and sold in the market for the best price reasonably obtainable on behalf of shareholders entitled to fractions. The Company will distribute the net proceeds of sale in due proportion to any such entitled shareholders but if the net proceeds of sale amount to GBP3 or less, the proceeds will be retained for the benefit of the Company (as a consequence of the disproportionate cost in distributing such proceeds of sale).

The Capital Reorganisation is subject to the approval of shareholders at the AGM. If the resolutions are passed, the Capital Reorganisation will become effective immediately following close of business on that date. Application will be made for the New Ordinary Shares to be admitted to trading on AIM and, if the resolutions are passed, it is expected that admission will become effective at 8.00 a.m. on 5 June 2015.

The New Ordinary Shares arising upon the implementation of the Capital Reorganisation will have the same rights as the Existing Ordinary Shares including voting, dividend and other rights. In the event that the resolutions in respect of the Capital Reorganisation are passed at the AGM, it is expected that there will be 51,238,982 New Ordinary Shares in issue following completion of the Capital Reorganisation.

Following the Capital Reorganisation, the Company's new ISIN Code will be GB00BXVMLV36 and its new SEDOL Code will be BXVMLV3.

The expected timetable of principal events is set out below. The dates and times are indicative only and subject to change. Any changes to the indicative timetable will be notified by a regulatory announcement.

 
 Expected timetable of principal events                   2015 
 Latest time and date for receipt of the Forms of         10.00 a.m. on 
  Proxy                                                    2 June 
 Annual General Meeting                                   10.00 a.m. on 
                                                           4 June 
 Latest time and date for dealings in Existing Ordinary   4.30 p.m. on 4 
  Shares                                                   June 
 Record time and date for the Capital Reorganisation      6.00 p.m. on 4 
  ("Record Date")                                          June 
 Admission effective and commencement of dealings         8.00 a.m. on 5 
  in the New Ordinary Shares                               June 
 CREST accounts credited with the New Ordinary Shares     5 June 
  in uncertificated form 
 Despatch of definitive certificated for New Ordinary     On or around 11 
  Shares (in certificated form)                            June 
 

For further information, please contact:

 
 LiteBulb Group Limited                                                www.litebulbgroup.com 
 Simon McGivern, Chief Executive                                          Tel: [phone] 
  Guy Pettigrew, Group Finance Director 
 
 finnCap (NOMAD & Broker)                                                 Tel: [phone] 
 Stuart Andrews/Scott Mathieson (Corporate 
  Finance) 
 Joanna Weaving (Corporate Broking) 
 
 Walbrook PR Limited                           Tel: [phone] or [e-mail] 
 Paul McManus / Sam Allen                                     Mob: [phone] / Mob: 7884 
                                                                                     664 686 
 
 

About LiteBulb Group

LiteBulb Group designs, manufactures and distributes innovative brands and products to the global retail market.

LiteBulb Products, our wide range of products are sold in over 30 countries through blue chip retailers including: ASDA, BHS, Tesco, Sainsbury's, WH Smith, Halfords, Marks & Spencer, Morrisons, QVC, Next, Fenwicks and Toys R Us.

LiteBulb Creative is a creative agency with global reach, delivering compelling and agile brand extension programmes to the entertainment industry. LiteBulb Creative has designed products and campaigns for clients around the world, including Disney, Hasbro and Miramax.

This information is provided by RNS

The company news service from the London Stock Exchange

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