Immediate Acquisition PLC Result of AGM (3769R)

TIDMIME

RNS Number : 3769R

Immediate Acquisition PLC

05 July 2022

5 July 2022

Immediate Acquisition Plc

("IME", the "Group" or the "Company")

Result of Annual General Meeting

Immediate Acquisition Plc (AIM: IME) announces that at its Annual General Meeting ("AGM") held earlier today, all resolutions were passed with the requisite majorities. Resolutions 1-8 (inclusive) were passed as ordinary resolutions. Resolutions 9, 10 and 11 were all in relation to the Directors' authority to allot shares, this matter was covered in the resolutions put to the general meeting held on 1 July and therefore the Directors decided to withdraw resolutions 9, 10 and 11 from the AGM.

Voting was conducted by way of a poll and the results are set out below:

 
 Resolution                               Votes for   % of votes   Votes Against   % of votes   Withheld   Total Votes 
 1. To receive and adopt the Company's 
  annual accounts for the year ended 31 
  December 2021 
  together with the Directors' report 
  and auditor's report.                   7,678,780      100.00%             Nil        0.00%        Nil     7,678,780 
                                         ----------  -----------  --------------  -----------  ---------  ------------ 
 2. To receive and approve the 
  Directors' remuneration report for 
  the year ended 31 December 
  2021.                                   7,678,780      100.00%             Nil        0.00%        Nil     7,678,780 
                                         ----------  -----------  --------------  -----------  ---------  ------------ 
 3. To re-elect Tim Hipperson as a 
  director of the Company.                7,678,780      100.00%             Nil        0.00%        Nil     7,678,780 
                                         ----------  -----------  --------------  -----------  ---------  ------------ 
 4. To re-elect Mark Horrocks as a 
  director of the Company.                3,078,780      100.00%             Nil        0.00%        Nil     3,078,780 
                                         ----------  -----------  --------------  -----------  ---------  ------------ 
 5. To re-elect Simon Leathers as a 
  director of the Company.                7,678,780      100.00%             Nil        0.00%        Nil     7,678,780 
                                         ----------  -----------  --------------  -----------  ---------  ------------ 
 6. To re-appoint the auditors, Nexia 
  Smith & Williamson.                     7,678,780      100.00%             Nil        0.00%        Nil     7,678,780 
                                         ----------  -----------  --------------  -----------  ---------  ------------ 
 7. To authorise the Directors to fix 
  the remuneration of the auditors.       7,678,780      100.00%             Nil        0.00%        Nil     7,678,780 
                                         ----------  -----------  --------------  -----------  ---------  ------------ 
 8. To affirm the sale of the Company's 
  loan to Sprift Technologies Limited, 
  at face value, 
  for a total cash consideration of 
  GBP1.05 million to Mark Horrocks, 
  Non-Executive Director 
  of the Company, for the purposes of 
  section 190 of the Companies Act 
  2006.                                   3,078,780      100.00%             Nil        0.00%        Nil     3,078,780 
                                         ----------  -----------  --------------  -----------  ---------  ------------ 
 9. Withdrawn                                   N/A          N/A             N/A          N/A        N/A           N/A 
                                         ----------  -----------  --------------  -----------  ---------  ------------ 
 10. Withdrawn                                  N/A          N/A             N/A          N/A        N/A           N/A 
                                         ----------  -----------  --------------  -----------  ---------  ------------ 
 11. Withdrawn                                  N/A          N/A             N/A          N/A        N/A           N/A 
                                         ----------  -----------  --------------  -----------  ---------  ------------ 
 
 
 For further information please contact: 
 Immediate Acquisition Plc                       Tel: [phone] 
  Tim Hipperson, Non-executive Chairman 
  Simon Leathers, Non-executive Director 
 SPARK Advisory Partners Limited (Nomad)         Tel: [phone] 
  Mark Brady 
  Neil Baldwin 
 SP Angel Corporate Finance LLP (Broker)         Tel: [phone] 
  Abigail Wayne 
  Matthew Johnson 
 Buchanan Communications                         Tel: [phone] 
  Chris Lane / Kim van Beeck / Jack Devoy 
 

Information on Immediate Acquisition plc

Immediate Acquisition plc is currently an AIM Rule 15 cash shell. At a general meeting on 1 July 2022, shareholders approved the acquisition of Fiinu Holdings Limited ("Fiinu Holdings") (the "Acquisition"), a fintech company and creator of the Plugin Overdraft(R), which is classified as a reverse takeover under AIM Rule 14. The Acquisition remains conditional, inter alia, upon Fiinu's subsidiary, Fiinu 2 Ltd ("Fiinu 2"), receiving confirmation of its Part 4A deposit taking licence from the UK regulators.

Information on Fiinu

Fiinu Holdings, founded in 2017, is a technology platform and provider of consumer banking products.

Fiinu is comprised of two innovative businesses: Fiinu 2, which is in the final stages of obtaining Part 4A Permission from the UK regulators and will offer the group's flagship product, the Plugin Overdraft(R), and Fiinu Ltd, a provider of financial technology and alternative data solutions.

Fiinu's Plugin Overdraft(R) is an unbundled overdraft solution, whereby Fiinu can provide its customers with an overdraft facility without them having to switch their current account with their present bank, giving customers access to affordable credit. Importantly, an overdraft does not negatively impact a consumer's credit score and helps avoid expensive "payday lenders", giving consumers the opportunity to build their credit rating.

Fiinu Ltd is the group's technology arm which will manage and develop the group's platform utilising data insights and analytics.

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July 05, 2022 05:48 ET (09:48 GMT)