Business
Results of Court Meeting and General Meeting
Results of Court Meeting and General Meeting.
About this update from Crimson Tide Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO ANY RESTRICTED JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.\nFOR IMMEDIATE RELEASE\n19 March 2025\nCrimson Tide plc\n(\"Crimson Tide\", \"the Company\" or \"Group\")\nResults of Court Meeting and General Meeting on 19 March 2025\n \nCrimson Tide plc, the provider of the mpro5 process management app, announces the results of the Court Meeting and General Meeting held today in connection with the recommended all-share merger of Checkit plc (\"Checkit\") and Crimson Tide (the \"Merger\").\nAt the Court Meeting, as more particularly described below, the requisite majority of Crimson Tide Scheme Shareholders did not vote in favour of the resolution to approve the Scheme.\nAt the General Meeting, as more particularly described below, the requisite majority of Crimson Tide Shareholders did not vote in favour of the special resolution put to the General Meeting.\nFull details of the resolution that was proposed at the Court Meeting are set out in the notice of the Court Meeting contained in the Scheme Document and full details of the resolution that was proposed at the General Meeting are set out in the notice of the General Meeting contained in the Scheme Document.\nLapse of the Scheme\nAs a result of votes cast at the Court Meeting and the General Meeting, the Crimson Tide Directors note that the conditions of the Scheme as outlined in the Scheme Document have not been satisfied and as such, the Scheme has now lapsed. As the Scheme has lapsed, Crimson Tide is no longer in an offer period for the purposes of the Takeover Code.\nCheckit is now subject to the restrictions set out in Rule 35.1 of the Code and is prohibited from, amongst other things, making any offer for Crimson Tide for a period of 12 months from the date of this announcement except if these restrictions are put aside with the consent of the Panel in the circumstances set out in Note 1 to Rule 35.1. \nVoting results of the Court Meeting\nThe results of the poll at the Court Meeting are set out in the table below. Each Crimson Tide Scheme Shareholder present in person or by proxy was entitled to one vote for each Scheme Share held at the Voting Record Time.\n\n\n\n\nResults of Court Meeting\n\n\nFOR\n\n\nAGAINST...