21st Century Technology PLC Result of Meeting (3371V)

TIDMC21

RNS Number : 3371V

21st Century Technology PLC

02 December 2019

2 December 2019

21(st) Century Technology plc

("21(st) Century" or "the Group")

Result of GM

21st Century Technology plc (AIM: C21), to be renamed "Journeo plc" (AIM: JNEO) the specialist provider of integrated IoT systems and software to the passenger transport markets, announces that at its General Meeting held earlier today all the resolutions proposed, details of which were set out in a Circular to shareholders dated 13 November 2019, were duly passed. Results of the proxy voting will be available on the Company's website in due course.

All capitalised terms in this announcement are as defined in the Circular which in addition to the Notice of GM and other relevant documents was sent to shareholders on 13 November 2019 and is available on the Company's website, www.21stplc.com.

Share Reorganisation and New Ordinary Shares

Immediately following the GM, 245 Existing Ordinary Shares were issued at a price of 6.5 pence per share to ensure that as part of the Share Reorganisation an exact whole number of New Consolidate Shares will be issued. At the Share Reorganisation Record Date, the 93,240,000 Existing Ordinary Shares will be consolidated into New Consolidated Ordinary Shares each on the basis of one New Consolidated Ordinary Share for each 4,000 Existing Ordinary Shares. Each New Consolidated Ordinary Share will then be sub-divided into 250 New Ordinary Shares and 3,750 Deferred Shares. Immediately following the Share Reorganisation, the Company's issued share capital will comprise 5,827,500 Ordinary Shares of 6.5p each and 87,412,500 Deferred Shares of 6.5p each.

The closing mid-market price of an Existing Ordinary Share on 29 November was 4.25 pence which, had the Share Reorganisation occurred at that time, would be equivalent to a price of 68 pence per New Ordinary Share.

Application has been made for the 5,827,500 New Ordinary Shares to be admitted to trading on AIM. Dealings are expected to commence on 3 December 2019 at 8 a.m. The New Ordinary Shares will trade under the ISIN: GB00BKP51V79 and SEDOL: BKP51V7.

Existing share certificates will cease to be valid following the Share Reorganisation. New share certificates in respect of the New Ordinary Shares are expected to be issued on or around 10 December 2019. A CREST Shareholder will have their CREST account credited with their New Ordinary Shares following Admission on 3 December 2019.

In accordance with the provisions of the Disclosure and Transparency Rules of the Financial Conduct Authority, the Company confirms that, following the Share Reorganisation, its issued share capital will comprise 5,827,500 new ordinary shares of 6.5p each ("Ordinary Share") and 87,412,500 deferred shares of 6.5p each. All of the Ordinary Shares have equal voting rights and none of the Ordinary Shares are held in Treasury. The total number of voting rights in the Company is therefore 5,827,500. This figure 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 Disclosure and Transparency Rules.

Change of Name and Website Address

Shareholders have approved the change of Company name to:

Journeo plc

The change of name will be effective once Companies House has issued a certificate of incorporation on change of name. This is expected to occur on or around 2 December 2019. The tradable instrument display mnemonic ("TIDM") of the Company is expected to change to JNEO with effect from 7 a.m. on 3 December 2019.

Following the change of name the Company's website address will be www.journeo.com.

The expected timetable for implementation of the proposals is as follows:

 
 Record Date for the Share Reorganisation          6 p.m. on 2 December 
                                                                   2019 
 Admission and dealings in the New Ordinary             3 December 2019 
  Shares expected to commence on AIM 
                                                  --------------------- 
 Expected date for CREST accounts to be                 3 December 2019 
  credited for the New Ordinary Shares to 
  be held in uncertified form 
                                                  --------------------- 
 Despatch of definitive share certificates          by 10 December 2019 
  in respect of the New Ordinary Shares 
  to be held in certificated form, if applicable 
                                                  --------------------- 
 

(Notes)

(1. Each of the times and dates above are indicative only and if any of the details contained in the timetable above should change, the revised times and dates will be notified to Shareholders by means of an announcement through a Regulatory Information Service.)

(2. All of the above times refer to London time unless otherwise stated.)

For further information, please contact:

 
21st Century Technology plc 
 Russ Singleton/ Nick Lowe                   [phone] 
 
WH Ireland - Nominated Adviser and Broker 
 Mike Coe/ Chris Savidge                     [phone] 
 
Communications Portfolio 
 Ariane Comstive                            [phone] 
 

Notes to editors:

'Connected Systems for Connected Journeys'

Journeo plc is the specialist provider of integrated systems and software to the transport community, solving complex operational requirements 'on-board' vehicles and the associated 'in-street' information delivery infrastructure. Comprising a Fleet Systems division and a Passenger Systems division, Journeo plc's innovative IoT solutions are 'connecting systems for connected journeys'.

Fleet Systems solutions include CCTV video surveillance to improve passenger & driver safety, vehicle & driver performance monitoring, real-time on-board IT subsystems management and automatic passenger counting.

Passenger Systems solutions include design, manufacture, installation and management of all the hardware and software for electronic passenger information systems, smart-ticketing and wayfinding.

With over 20 years' experience in the passenger transport industry, 21st Century specialises in creating innovative, cost-effective technology-led solutions to safely enhance the passenger travel experience whilst delivering real operational benefits to vehicle manufacturers, fleet operators, transport networks and local authorities.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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December 02, 2019 06:33 ET (11:33 GMT)