CML Microsystems PLC Result of General Meeting (7548S)

TIDMCML

RNS Number : 7548S

CML Microsystems PLC

18 March 2021

CML Microsystems Plc

Result of General Meeting

CML Microsystems Plc (the "Group" or the "Company"), which develops mixed-signal, RF and microwave semiconductors for global communications markets, announces that at its general meeting ("GM") held at 10.00 a.m. today the resolution put to shareholders, as set out in the Notice of GM dated 22 February 2021, was passed with the requisite majority on a poll. Accordingly, the Company announces that 16,551,685 redeemable preference shares of 50 pence each in the capital of the Company ("B Shares") will be issued tomorrow, Friday 19 March 2021. A further announcement will be made tomorrow regarding the issue of the B Shares.

The poll results were as follows:

 
 Resolution                        For            %     Against    %     Withheld    % 
 1. (a) To adopt new Articles 
  of Association of the 
  Company in order to implement 
  the B Share Scheme; and 
  (b) to authorise the Board 
  to: (i) capitalise a sum 
  not exceeding GBP8.6 million 
  and to apply such sum 
  in paying up in full the 
  B Shares; and (ii) allot 
  and issue the B Shares, 
  up to an aggregate nominal 
  amount of GBP8.6 million, 
  on the basis of one B 
  Share for Ordinary Share 
  held at the Record Time          13,662,918   99.99    1,000    0.01     506      0.00 
                                  -----------  ------  --------  -----  ---------  ----- 
 
 
 CML Microsystems Plc                www.cmlmicroplc.com 
  Chris Gurry, Group Managing         Tel: [phone] 
  Director 
  Nigel Clark, Group Non-Executive 
  Chairman and Group Finance 
  Director 
 Shore Capital                       Tel: [phone] 
  Edward Mansfield 
  James Thomas 
  Fiona Conroy - Corporate Broking 
 SP Angel Corporate Finance          Tel: [phone] 
  LLP 
  Jeff Keating 
 Alma PR 
  Josh Royston                         Tel: [phone] 
  Caroline Forde 
  Robyn Fisher 
 

About CML Microsystems PLC

CML develops mixed-signal, RF and microwave semiconductors for global communications markets. The Group utilises a combination of outsourced manufacturing and in-house testing with trading operations in the UK, Asia and USA. CML targets sub-segments within Communication markets with strong growth profiles and high barriers to entry. It has secured a diverse, blue chip customer base, including some of the world's leading commercial and industrial product manufacturers.

The spread of its customers and diversity of the product range largely protects the business from the cyclicality usually associated with the semiconductor industry. Growth in its end markets is being driven by factors such as the appetite for data to be transmitted faster and more securely, the upgrading of telecoms infrastructure around the world and the growing prevalence of private commercial wireless networks for voice and/or data communications linked to the industrial internet of things (IIoT).

The Group is cash-generative, has no debt and is dividend paying.

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March 18, 2021 09:03 ET (13:03 GMT)