Notice of AGM
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I received this in the post this morning. (Accounts not out yet so will be issued separately).
AGM is 27 February at 6:00 p.m. The usual ordinary resolutions are there, but also special resolutions about the new investment.
Ordinary Resolutions
Authorise the directors to ALLOT ordinary shares up to nominal value of £3.1 million
The new shares under the £3.1 million will be used to convert shareholder loans of £5.75 million by Bydand Sports into ordinary shares
Then issue 70.2 million new ordinary shares to Turqouise Bidco (subsidiary of Black Knights)
Special Resolutions
One authorises directors to disapply pre-emption rights (i.e. they don't have to offer new shares to all shareholders). One is about new Articles of association.
Ordinary resolutions require 50% (+1) to pass. Special resolutions require 75% to vote for. If the ordinary resolutions re loan conversion and new share issue do not pass, the loan conversion and investment by Black knight won't go ahead.
Voting will be by poll, not a show of hands at the meeting.
AGM is 27 February at 6:00 p.m. The usual ordinary resolutions are there, but also special resolutions about the new investment.
Ordinary Resolutions
Authorise the directors to ALLOT ordinary shares up to nominal value of £3.1 million
The new shares under the £3.1 million will be used to convert shareholder loans of £5.75 million by Bydand Sports into ordinary shares
Then issue 70.2 million new ordinary shares to Turqouise Bidco (subsidiary of Black Knights)
Special Resolutions
One authorises directors to disapply pre-emption rights (i.e. they don't have to offer new shares to all shareholders). One is about new Articles of association.
Ordinary resolutions require 50% (+1) to pass. Special resolutions require 75% to vote for. If the ordinary resolutions re loan conversion and new share issue do not pass, the loan conversion and investment by Black knight won't go ahead.
Voting will be by poll, not a show of hands at the meeting.