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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Smartspace Software Plc | LSE:SMRT | London | Ordinary Share | GB00BYWN0F98 | ORD SHS 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 90.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Phone Comm Ex Radiotelephone | 7.15M | -2.74M | -0.0946 | -9.51 | 26.05M |
TIDMREDS
RNS Number : 9876E
RedstoneConnect PLC
12 May 2017
RedstoneConnect plc
("RedstoneConnect" or the "Company")
Notice of Annual General Meeting
Proposed 1:100 share consolidation and capital reduction
RedstoneConnect (AIM: REDS), a leading provider of technology and services for smart buildings and commercial spaces, announces that it has today distributed to shareholders its Notice of Annual General Meeting (the "Notice").
The Company's Annual General Meeting ("AGM") will be held at 11 a.m. on 5 June 2017 at the offices of RedstoneConnect, 40 Holborn Viaduct, London EC1N 2PB.
Proposed Share Consolidation and Capital Reduction
On 9 May 2017, the Company announced its plans to seek shareholder approval to undertake a share consolidation based on every 100 existing ordinary shares of 0.1p each ("Existing Ordinary Share") being consolidated into one new ordinary share of 10p each ("New Ordinary Share"). In addition the Company announced its plans to seek shareholder approval to effect a capital reduction.
Contained within the Notice are further details of proposals for a 1:100 consolidation of share capital ("Share Consolidation") as well as details of proposals for a capital reduction ("Capital Reduction").
As at 12 May 2017, the Company had 2,078,479,485 ordinary share of 0.1p each in issue. Following the proposed Share Consolidation the Company will have 20,784,795 ordinary shares of 10p each in issue. The record date of the Share Consolidation is scheduled for 5 June 2017 with trading in the consolidated shares under the ISIN GB00BYWN0F98 expected to begin on AIM at 8 a.m. on 6 June 2017, the next business day following the AGM.
As all existing ordinary shareholdings in the Company are proposed to be consolidated, the proportion of the issued ordinary share capital of the Company held by each shareholder immediately before and after the Share Consolidation will, save for fractional entitlements and those holding fewer than 100 Existing Ordinary Shares, remain relatively unchanged.
Unless a shareholding is exactly divisible by 100, shareholders will be left with a fractional entitlement to the resulting New Ordinary Shares assuming the Share Consolidation is approved by shareholders at the AGM. Any fractions arising as a result of the consolidation will be aggregated and sold in the market on shareholders' behalf and, the directors have so determined that where the amount of the proceeds owed in respect of any single shareholding is GBP3.00 or more, the net proceeds of the sale (after costs) will be returned to shareholders in proportion to their fractional entitlement. Proceeds of less than GBP3.00 will be retained by the Company and given to charity.
Further details regarding the proposed Share Consolidation and Capital Reduction can be found in the Notice made available to shareholders today, available at www.redstoneconnectplc.com.
Enquiries:
RedstoneConnect Plc via Vigo Communications Mark Braund (CEO) Spencer Dredge (CFO) Cantor Fitzgerald Europe (Nominated Adviser & Joint Broker) Marc Milmo/Phil Davies/Catherine +44 (0)20 7894 Leftley/Callum Butterfield 7000 Whitman Howard Limited (Joint Broker) +44 (0)207 659 Nick Lovering 1234 Vigo Communications (Financial Public Relations) Jeremy Garcia / Ben Simons / Antonia Pollock +44 (0)20 7830 reds@vigocomms.com 9700
Timetable of Events
Annual General Meeting 11 a.m. on 5 June Share Consolidation Record Date Close of business on 5 June Existing Ordinary Shares disabled 5 p.m. on 5 June in CREST and share register closed Admission effective and dealings 8 a.m. on 6 June commence on AIM in New Ordinary Shares CREST accounts credited with New 8 a.m. on 6 June Ordinary Shares Capital Reduction Record Date 6 p.m. on 27 June New share certificates despatched 27 June on or before Court hearing of application to 28 June confirm the Reduction of Capital Effective Date of the Reduction 28 June of Capital
About RedstoneConnect
RedstoneConnect is focused on technologies that make real estate more efficient and businesses more effective. Its businesses, Redstone, Connect IB, Commensus and Anders + Kern provide the infrastructure capabilities and the software applications to deliver smart building and smart workspace solutions for commercial businesses, public sector organisations, real estate owners and managers. Visit our website at www.redstoneconnectplc.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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(END) Dow Jones Newswires
May 12, 2017 04:30 ET (08:30 GMT)
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