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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 |
TIDMMBT
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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