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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Kin Group | LSE:KIN | London | Ordinary Share | GB00BZ7M6059 | ORD 0.5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 3.15 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMKIN
RNS Number : 9648A
Kin Group PLC
17 September 2018
RNS ANNOUNCEMENT:
For immediate release
17 September 2018
Kin Group Plc ("Kin" or "the Company")
Result of General Meeting and Total Voting Rights
General Meeting
Further to the announcement on 31 August 2018 of the proposed acquisition of Bidstack Limited and Placing, Kin Group Plc is pleased to announce that at its General Meeting, held earlier today, all resolutions set out in the Notice of General Meeting were duly passed.
Resolution numbered 1 in the Notice of General Meeting, being an ordinary resolution to be voted on by the Independent Shareholders to approve the waiver by the Panel of the obligations that would otherwise arise for the Concert Party to make a general offer for the Enlarged Group under rule 9 of the Takeover Code ("Whitewash Resolution"), was passed on a poll with 1,744,886 votes of Independent Shareholders in favour and no votes against.
Consequently, the acquisition of Bidstack Limited, the Placing and the Vendor Placing can now proceed to completion and the change of the Company's name to Bidstack Group Plc can be registered at Companies House.
Completion of the Acquisition, the Placing, the Vendor Placing and Admission of the Enlarged Ordinary Share Capital to trading on AIM are expected to take place at 8.00 a.m. on 19 September 2018.
In addition the appointments of James Draper, John McIntosh and Francesco Petruzzelli to the board of the Company will take effect from Admission. The information on each of James Draper, John McIntosh and Francesco Petruzzelli required to be disclosed under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies was disclosed in the Company's announcement on 31 August 2018. There has been no change to such information.
Concert Party
In accordance with the Takeover Code, following the passing of the Whitewash Resolution at the General Meeting, on Admission members of the Concert Party will own the following numbers of shares:
Number of Ordinary % of Enlarged Ordinary Concert Party Member Shares Share Capital -------------------------- -------------------------------- James Draper 41,188,062 20.72% Francesco Petruzzelli 7,250,000 3.65% Simon Mitchell 9,979,298 5.02% Daniel Fabian 5,699,478 2.87% Cristian Young 1,953,122 0.98% Ross Bliben 2,000,000 1.01% Nilesh Gohil 2,000,000 1.01% Jason Colley 2,000,000 1.01% Anita Petruzzelli 765,962 0.39% Catalina Cruz 72,500 0.04% -------------------------- -------------------------------- Total 72,908,422 36.67% ========================== ================================
Total Voting Rights
Application has been made to the London Stock Exchange for 198,807,631 Ordinary Shares of 0.5p, being the Enlarged Ordinary Share Capital, to be admitted to trading on AIM and dealings in the Company's ordinary shares are expected to commence under its new name of Bidstack Group Plc (AIM: BIDS) at 8.00am on Wednesday 19 September 2017.
Following Admission, the Company's total issued share capital will comprise 198,807,631 Ordinary Shares with voting rights. 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, securities of the Company under the FCA's Disclosure and Transparency Rules.
Definitions
Defined terms used in this announcement have the meanings set out in the Admission Document dated 31 August 2018 (unless the context otherwise requires), which is available on the Company's website www.kingroupplc.com
**ENDS**
Kin Group plc Donald Stewart, Chairman Lindsay Mair, Non Executive Director +44 (0) 7786 575 John Taylor, Non Executive Director 372 Spark Advisory Partners Limited (Nominated Adviser) Mark Brady / Neil Baldwin / James Keeshan +44 (0) 203 368 3550 Peterhouse Capital Limited (Broker) Eran Zucker / Lucy Williams / Duncan Vasey +44 (0) 20 7469 0930 Belvedere Communications (Financial PR) Cat Valentine / Llew Angus +44 (0) 20 3567 0515
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 rns@lseg.com or visit www.rns.com.
END
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(END) Dow Jones Newswires
September 17, 2018 05:23 ET (09:23 GMT)
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