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MBT Mobile Tornado Group Plc

0.75
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Mobile Tornado Group Plc LSE:MBT London Ordinary Share GB00B01RQV23 ORD 2P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.75 0.70 0.80 0.75 0.75 0.75 0.00 07:36:30
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Investors, Nec 2.28M -1.38M -0.0033 -2.27 3.13M

Mobile Tornado Group PLC Result of AGM and issue of equity (1279R)

12/06/2018 11:35am

UK Regulatory


Mobile Tornado (LSE:MBT)
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RNS Number : 1279R

Mobile Tornado Group PLC

12 June 2018

12 June 2018

Mobile Tornado Group plc

("Mobile Tornado", the "Company" or the "Group")

Result of AGM and issue of equity

Mobile Tornado (AIM: MBT), the leading provider of instant communication mobile applications to the enterprise market, announces that at the Annual General Meeting held earlier today, all resolutions were duly passed.

As announced on 16 May 2018, the resolutions at the AGM included, inter alia:

1. a special resolution to provide the Company with sufficient headroom to issue and allot 50,800,000 new ordinary shares of 2 pence each in the Company ("Ordinary Shares") to InTechnology plc ("InTechnology") in accordance with the proposal to capitalise up to GBP2.54 million of short term indebtedness owed by the Company to InTechnology (the "Capitalisation Shares") as announced on 10 January 2018; and

2. a minor amendment to the Company's articles of association to enable an extension to the redemption date of the GBP5.7 million of redeemable preference shares from 31 December 2018 until 31 December 2020.

Admission to AIM and total voting rights

Application has been made to AIM for the Capitalisation Shares to be admitted to trading ("Admission"). It is expected that Admission will become effective on 18 June 2018. The Capitalisation Shares will rank pari passu with the existing Ordinary Shares in the Company.

Following the issue of the Capitalisation Shares, and for the purposes of the Disclosure and Transparency Rules, the Company's total issued share capital on Admission will consist of 349,240,236 Ordinary Shares.

The above 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 Company, under the Disclosure and Transparency Rules.

InTechnology shareholding

Following Admission, InTechnology will hold a total of 177,509,135 Ordinary Shares in the Company, equivalent to 50.8% of the total issued ordinary share capital of the Company. In addition, Peter Wilkinson holds a further 38,146,141 Ordinary Shares, equivalent to 10.9% of the total issued ordinary share capital of the Company on Admission. InTechnology will also hold 71,276,735 Preference Shares.

Enquiries:

 
 Mobile Tornado Group plc                  www.mobiletornado.com 
 Jeremy Fenn, Chairman                     +44 (0)7734 475 888 
 
 Allenby Capital Limited (Nominated 
  Adviser & Broker)                        +44 (0)20 3328 5656 
 Virginia Bull / James Reeve / Nicholas 
  Chambers 
 
 Walbrook PR Ltd                           +44 (0)20 7933 8780 or 
                                            mobiletornado@walbrookpr.com 
 Paul Cornelius 
 Sam Allen 
 

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

RAGSFSFSEFASEDM

(END) Dow Jones Newswires

June 12, 2018 06:35 ET (10:35 GMT)

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