Business
Result of General Meeting
Result of General Meeting.
About this update from Cloudcoco Group Plc
[{"type":"text","content":"\n \nRNS Number : 7057O Pinnacle Technology Group PLC 10 February 2016 \n\nPinnacle Technology Group plc \n(the \"Company\" or \"Pinnacle\") \n \nResult of General Meeting\n \nOn 22 January 2016 Pinnacle Technology Group plc, the AIM listed provider of converged technology solutions, announced that it had conditionally raised £4.55 million (before expenses) through the issue of 108,392,857 new Ordinary Shares by way of a placing and up to a further £0.25 million through the issue of up to 5,918,256 new Ordinary Shares by way of an open offer to qualifying shareholders on the basis of 1 Open Offer Share for every 10 Existing Ordinary Shares, at the Placing Price (\"Open Offer\"). \nThe Open Offer closed for acceptance yesterday with valid acceptances including excess applications having been received in excess of the maximum number of Open Offer Shares available under the Open Offer. The Open Offer excluded certain existing shareholders who are participating in the Placing who had irrevocably undertaken not to take up their Open Offer entitlements. Accordingly a total of 5,918,256 Open Offer Shares will be issued in connection with the Open Offer.\nThe Company is pleased to announce that at the General Meeting held today all Resolutions proposed were duly passed and accordingly the Placing, Open Offer and acquisitions of Ancar-B and Weston will complete upon admission of the New Ordinary Shares to trading on AIM.\nApplication has been made to the London Stock Exchange for the 167,882,542 New Ordinary Shares to be admitted to trading on the AIM market of the London Stock Exchange. It is expected that Admission will become effective on or around 11 February 2016.\nFollowing Admission, the number of ordinary shares that the Company will have in issue will be 227,065,100. The total number of voting rights of the Company will be 227,065,100. 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. \nDefined terms used in this announcement shall have the same meaning as those terms defined and used in the Circular dated 22 January 2016. \n \n \nGavin Lyons, Executive Chairman commented:\n \n\"The acquisitions of Ancar-B and Weston conclude the first ste...