Byotrol PLC Posting of circular & notice of AGM (6763C)

TIDMBYOT

RNS Number : 6763C

Byotrol PLC

20 October 2020

20 October 2020

Byotrol plc

Posting of circular and notice of Annual General Meeting

Byotrol plc (AIM: BYOT), the anti-microbial technology company, announces that it has today posted to shareholders its notice of Annual General Meeting ("AGM") and a circular (the "Circular") in connection with the Company's AGM and a proposed capital reduction. The capital reduction process comprises (i) the cancellation of the Company's share premium account; and (ii) the capitalisation of the amount standing to the credit of the Company's merger reserve by issuing B ordinary shares in the capital of the Company and the subsequent cancellation of such B ordinary shares (the "Capital Reduction").

The purpose of the Capital Reduction is to create distributable reserves. While the Company is not making a specific proposal, nor has any decision been taken as to the use of any such distributable reserves, this will have the effect of increasing the Company's flexibility to pay dividends, subject to the financial performance of the Company. Shareholders should note that the issue of Capital Reduction Shares is the legal method required to capitalise the Company's merger reserve and the Capital Reduction Shares will be cancelled the day after issue. Accordingly, Shareholders' holdings of Ordinary Shares in the Company will be unaffected and no other shares will be held by Shareholders following completion of the Capital Reduction.

The proposals regarding the Capital Reduction are conditional upon both the passing of the resolutions at the AGM and Court approval being obtained.

The AGM is to be held at the offices of finnCap Ltd, 1 Bartholomew Close, London EC1A 7BL at 11.00 am on 13 November 2020. Shareholders should note that, due to the COVID-19 pandemic, the AGM is being held as a closed meeting. Shareholders (other than the minimum number of two required to form a quorum, as arranged by the Company) will not be able to attend and vote at the AGM in person. Shareholders are therefore encouraged to vote in advance and to appoint the Chairman of the AGM as their proxy. All resolutions will be taken on a poll. Further information is set out in the Circular.

The Board recognises that the AGM normally represents an opportunity to engage with shareholders and provides a forum that enables shareholders to ask questions of the Board. In light of this, the Board is investigating methods of achieving this online. This may include the ability for shareholders to submit questions by email in advance of the meeting, which would be answered (if appropriate) immediately following the conclusion of the AGM on the Company's website. An announcement through a Regulatory Information Service will be published prior to the AGM with further details.

The Circular and the notice of AGM will shortly be made available on the Company's website at www.byotrolplc.com.

Enquiries:

Byotrol plc

David Traynor - Chief Executive Officer

Nic Hellyer - Chief Financial Officer 01925 742 000

finnCap

   Geoff Nash/Kate Bannatyne - Corporate Finance                        020 7220 0500 

Richard Chambers - ECM

Flagstaff Strategic and Investor Communications

   Tim Thompson/Andrea Seymour/Fergus Mellon                                020 7129 1474 

[e-mail]

Notes to Editors:

Byotrol plc (BYOT.L), quoted on AIM, is a specialist infection prevention and control company, operating globally in the Healthcare, Industrial, Food and Consumer sectors, providing low toxicity products with a broad-based and targeted efficacy across all microbial classes; bacteria, viruses (including coronavirus), fungi, moulds, mycobacteria and algae.

Byotrol's products can be used stand-alone or as ingredients within existing products, where they can significantly improve their performance, especially in personal hygiene, domestic and industrial disinfection, odour control, food production and food management.

Byotrol develops and commercialises technologies that create easier, safer and cleaner lives for everyone.

For more information, please go to byotrol.co.uk

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October 20, 2020 08:42 ET (12:42 GMT)