Business
Notice of GM
Notice of GM.
About this update from Alina Holdings Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 2897A\n Local Shopping REIT (The) PLC\n 28 September 2020\n \n \n \n \n FOR IMMEDIATE RELEASE.\n \n \n \n \n \n 28 September 2020\n \n \n \n \n \n The Local Shopping REIT plc (\"LSR\" or the \"Company\")\n \n \n \n \n \n \n Proposed transfer of the Company's listing category \n \n \n on the Official List from Premium to Standard \n \n \n \n \n \n New Strategy\n \n \n Proposed Change of Name \n \n \n and\n \n \n Notice of General Meeting\n \n \n \n \n \n \n The directors of the Company (the \"Board\" or the \"Directors\") are pleased to announce that LSR is today posting a circular to its shareholders (the \"Circular\") containing full details of the Board's proposals for the transfer of the Company's listing category on the Official List of the Financial Conduct Authority from Premium to Standard (the \"Proposed Transfer\"), the adoption of a new strategy for the Company and the change of the Company's name to Alina Holdings Plc (together, the \"Proposals\"). \n \n \n \n \n \n The Circular will be accompanied by a notice of a General Meeting of the Company to be convened for 10:00\n a.m. on 21 October 2020 inter alia for the purpose of passing the special resolution\n necessary to give effect to the Proposed Transfer as required by the Listing Rules. \n A Proxy Form for use by LSR Shareholders who hold their LSR Shares in certificated form is also being despatched with the Circular.\n \n \n \n \n \n Background to the Proposals\n \n \n \n \n \n Trading in the Company's ordinary shares (\"LSRShares\") on the London Stock Exchange was suspended on 18 September 2019 following the tender offer carried out by the Company which resulted in the Company's largest shareholder, Thalassa Holdings Ltd (\"Thalassa\"), owning approximately 92.62 per cent. of the Company's issued share capital (excluding shares held in treasury). This meant that the Company no longer complied with the 'free float' requirement of the Listing Rules for a minimum of 25 per cent. of a listed company's issued share capital to be in public hands. \n \n \n \n \n \n The Board has considered a range of potential options with a view to removing the suspension of trading in the Company's shares. Following discussions with the Board of Thalassa, it has been a...