MoPowered Group PLC Result of General Meeting (5230P)

TIDMMPOW

RNS Number : 5230P

MoPowered Group PLC

08 June 2015

8 June 2015

MOPOWERED GROUP PLC

("MoPowered" or the "Company")

Result of General Meeting, Director Appointments, Change of Name,

Change of Website and Total Voting Rights

The Company is pleased to announce that at its General Meeting held earlier today, all resolutions were duly passed.

The Company has therefore, conditional only on Admission;

-- Successfully raised GBP3.3m (before expenses) through the Placing and Subscription at 2 pence per share

   --      Completed the Acquisition of Fast Web Media Ltd. 
   --      Entered into the Services Agreement with Cxense 

-- Appointed Barry Moat as Chief Executive Officer and Staale Bjornstad as a new Non-Executive Director

Full details of the transactions are set out in the circular sent to Shareholders on 15 May 2015 (the "Circular").

Following the passing of the resolutions at the General Meeting, the Company has issued and allotted 311,666,800 New Ordinary Shares as follows:

 
                                   Number of new 
                                 Ordinary Shares 
 Placing and Subscription            165,000,000 
 The Acquisition                      89,046,800 
 The Services Agreement               50,000,000 
 Other new Ordinary Shares 
  to be issued in connection 
  with the Placing                     7,620,000 
 Total                               311,666,800 
 

Application has been made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM. It is expected that Admission will become effective and dealings in the New Ordinary Shares on AIM will commence at 8.00 a.m. on 9 June 2015.

The New Ordinary Shares will be issued credited as fully paid and will rank in full for all dividends and other distributions declared, made or paid after the admission of the New Ordinary Shares in respect of Ordinary Shares and will otherwise rank on admission of the New Ordinary Shares pari passu in all respects with the existing Ordinary Shares.

Board changes

With effect from Admission, Barry Moat will be appointed as the Company's new Chief Executive Officer and Staale Bjornstad will be appointed as a new Non-Executive Director.

In addition, Dominic Keen will, conditional on Admission, step down as CEO and will become a Non-Executive Director on the Board of the Company. Richard Mann, will step down from his position as a Non-Executive Director to the Company on Admission.

Barry Moat and Staale Bjornstad's biographies are set out in the Company's announcement of 15 May 2015 and in the Circular.

Total Voting Rights

Following Admission, the Company's total issued and voting share capital will comprise 400,719,603 Ordinary Shares. This number 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, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules

Name change and change of website

With the passing of resolution 3 at the General Meeting, the Company has changed its name to mporium Group plc. With effect from 9 June 2015 the Company will trade on AIM under its new name and its tradable instrument display mnemonic (TIDM) will change from "MPOW" to "MPM".

The Company's website address will also change on that date to www.mporium.com.

Shareholders are advised that existing share certificates in the name of MoPowered Group plc will remain valid, and that any new share certificates which are issued by the Company will be issued in the name of mporium Group plc.

Terms and expressions used in this announcement shall, unless defined herein or the context otherwise requires, have the same meanings as given to them in the Circular.

Enquiries:

 
 MoPowered:                 Tel: [phone] 
  Richard Gordon, Finance 
  Director 
 N+1 Singer                 Tel: [phone] 
  Ben Wright 
  Alex Wright 
 Bell Pottinger             Tel: [phone] 
  Rollo Crichton-Stuart 
 

Further information:

In accordance with Schedule 2 paragraph (g) of the AIM Rules for Companies, the following information in relation to the appointments of Barry Moat and Staale Bjornstad to the Board of Company is disclosed below:

Barry Moat

Barry Christopher Moat, aged 48, will on Admission hold 5,000,000 Ordinary Shares in the Company. In addition, the BM Option, as detailed in the Circular, has today been granted to Barry Moat with vesting subject to Admission. Save as disclosed below, there are no further disclosures to be made under Schedule 2, paragraph (g) of the AIM Rules.

 
 Current directorships   Past directorships held 
                          within the last 5 years 
 Activaeon Limited       Boxpipe Limited 
                          Dewhand Limited 
                          Tandem Bars Limited 
                          Lugano Developments Limited 
                          Shareappeal Limited 
                          Sharedirect Limited 
                          Logicsense Limited 
                          BNS Telecom Group Limited 
 

Origin Technology Group Limited, a private company of which Barry Moat was a director from February 2007 until January 2011, was dissolved as part of a creditors' voluntary liquidation initiated on 6 August 2009.

C.M. Building Maintenance Limited, a private company of which Barry Moat was a director from August 1991 until August 1994 was dissolved pursuant to a winding up order dated 20 October 1993.

Staale Bjornstad

As at 31 December 2014, Staale Bjornstad, aged 49, held 1,538 shares in Cxense ASA, a company which on Admission, will hold 75,000,000 Ordinary Shares in the Company. Save as disclosed below, there are no further disclosures to be made under Schedule 2, paragraph (g) of the AIM Rules.

 
 Current directorships   Past directorships held 
                          within the last 5 years 
 None                    Kuler Og Krutt AS 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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