RA International Group PLC Capital Reduction -- Result of General Meeting (3669U)

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RNS Number : 3669U

RA International Group PLC

22 November 2023

22 November 2023

RA INTERNATIONAL GROUP PLC

("RA International", "RA" or the "Company")

Capital Reduction - Result of General Meeting

RA International Group PLC (AIM: RAI), a specialist provider of complex and integrated remote site services to organisations globally, announced on 2 November 2023 that a shareholder circular ("Circular") containing a notice of general meeting (the "General Meeting") and Form of Proxy were posted to shareholders. The Circular set out the details of a proposal to reduce the Company's capital by the cancellation of the Company's share premium account in order to create distributable reserves (the "Capital Reduction").

The Capital Reduction was conditional, inter alia, upon the Company obtaining approval by shareholders at a General Meeting, and confirmation by the Court. The Company is pleased to announce that at its General Meeting held earlier, the Capital Reduction resolution put to Shareholders was duly passed.

The resolution was proposed as a special resolution. The proxy votes cast in respect of the resolution were as follows:

 
 RESOLUTIONS               Votes         %        Votes      %       Total         Votes 
                            For                    Against            Votes         withheld 
                                                                      Cast 
 1. To approve 
  the Capital Reduction    147,676,460   99.98%   24,789     0.02%   147,701,249   11,190 
                          ------------  -------  ---------  ------  ------------  ---------- 
 

A vote "Withheld" is not a vote in law and is not counted in the calculation of the percentage of shares voted "For" or "Against" any resolution.

The Company will now apply to the Court for confirmation of the Capital Reduction. The Capital Reduction will only become effective if the Court confirms that it is satisfied that the interests of any creditors (including contingent creditors) of the Company, whose debts remain outstanding on the date of the Court Order are registered and protected. This may require the Company to give undertakings to the Court to protect creditors.

EXPECTED TIMETABLE OF REMAINING PRINCIPAL EVENTS

 
 Directions hearing                      8(th) December 2023 
 Final hearing and confirmation of the   19(th) December 2023 
  Capital Reduction by the Court 
                                        --------------------- 
 Capital Reduction becomes effective     20(th) December 2023 
                                        --------------------- 
 

The information communicated in this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended.

Enquiries:

 
 RA International Group PLC                       Via Strand Hanson 
  Sangita Shah, Chair 
  Soraya Narfeldt Chief Executive Officer 
 Strand Hanson (Nominated Adviser and 
  Broker) 
  Ritchie Balmer/James Spinney/David Asquith    [phone] 
 

About RA International

RA International is a leading provider of services to remote locations. The Company offers its services through three channels: construction, integrated facilities management and supply chain, and services two main client groups: humanitarian and aid agencies and western government organisations focusing on overseas projects. It has a strong customer base, largely comprising UN agencies, UK and US government departments and global corporations.

The Company provides comprehensive, flexible, mission critical support to its clients enabling them to focus on the delivery of their respective businesses and services. Focusing on integrity and values alongside making on-going investment in its people, locations and operations has over time created a reliable and trusted brand within its sector.

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END

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November 22, 2023 10:13 ET (15:13 GMT)