MXC Capital Limited Results of General Meeting and Tender Offer (2608Q)

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RNS Number : 2608Q

MXC Capital Limited

17 October 2019

17 October 2019

MXC Capital Limited

("MXC" or the "Company", together with its subsidiaries, the "Group")

Results of General Meeting and Tender Offer

GBP1.7 million returned to shareholders

As announced on 2 October 2019, in line with its intention to re-establish a policy of returning capital to Shareholders, the Board of MXC resolved to return up to GBP1.7 million of capital to Shareholders via a Tender Offer. The Tender Offer closed at 1.00pm on 15 October 2019.

General Meeting

The Company announces that at the General Meeting held at 9.00 a.m. on 17 October, the resolutions proposed in the Notice of General Meeting attached to the Circular in relation to the Tender Offer, B Share Consolidation and Amendment to the Articles published by the Company on 2 October 2019, were duly passed.

Results of Tender Offer

The Company confirms 48,933,165 Ordinary Shares were validly tendered and 1,460,942 Ordinary Shares will be purchased at a price per Ordinary Share of 116 pence, for an aggregate consideration of GBP1.7 million. Tenders for up to and including the Tender Offer Entitlement of 1 Ordinary Share for every 46 Ordinary Shares will be met in full. Tenders received for surplus Ordinary Shares will be met at the rate of 0.0014301 Ordinary Shares for each surplus Ordinary Share tendered over and above the Tender Offer Entitlement of 1 for 46, rounded down to the nearest whole Ordinary Share.

The Ordinary Shares to be purchased under the Tender Offer represent approximately 2.17 per cent. of the Ordinary Shares in issue.

All of the 1,460,942 Ordinary Shares purchased by the Company will be cancelled. Cheques will be dispatched for certificated Ordinary Shares purchased pursuant to the Tender Offer and payment will be made through CREST for uncertificated Ordinary Shares purchased pursuant to the Tender Offer, in each case, by 25 October 2019.

Total voting rights

With effect from 25 October 2019, the total number of exercisable voting rights in the Company will reduce from 67,203,349 to 65,742,407. 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 Company.

Capitalised terms used in this announcement shall have the meanings given in the Circular referred to above which is available on the Company's website www.mxccapital.com

MXC Capital Limited

Ian Smith

[phone]

Zeus Capital Limited (Nominated adviser and broker)

Nick Cowles, Dan Bate

[phone]

About MXC Capital (www.mxccapital.com)

MXC is a specialist technology adviser and investor with a track record of investing in and advising companies in the TMT sector. MXC brings together a deep knowledge of technology, first-hand experience of managing companies in the sector, an ability to make meaningful investments and a highly experienced corporate advisory team in support, all of which combine to grow shareholder value.

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October 17, 2019 09:08 ET (13:08 GMT)