Business
Notice of General Meeting & Scheme of Arrangement
Notice of General Meeting & Scheme of Arrangement.
About this update from Kistos Holdings Plc
[{"type":"text","content":"\n \n \n \n THIS ANNOUNCEMENT, INCLUDING THE INFORMATION CONTAINED IN IT, IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.\n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU, WHICH IS PART OF UNITED KINGDOM DOMESTIC LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) (\"UK MAR\"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n \n \n 22 November 2022\n \n \n \n Kistos plc\n \n \n \n \n Notice of General Meeting and Scheme of Arrangement\n \n \n \n The board of directors of Kistos plc\n (\"Kistos\" or \"Company\" or, together with its subsidiary or subsidiary undertakings, the \"Group\"; the \"Board\")\n (AIM: KIST) announces that a court meeting (\"Court Meeting\") will be held on\n 14\n December 2022 at 10.30 a.m. and a general meeting (\"GM\") of the Company shall occur thereafter at 10.50 a.m. on\n 14 December 2022.\n \n \n The Board further announces it is pursuing a scheme of arrangement under Part 26 of the Companies Act 2006, as amended (the \"Scheme\") following which the Group will interpose and maintain a new non-operational entity, Kistos Holdings plc, which will become the holding company of, and the provider of working capital to, the Group.\n \n \n A circular in relation to the Scheme containing notices of Court Meeting and GM (the \"Meetings\") and associated forms of proxy (the \"Circular\"). Copies of the Circular will today be sent to the shareholders of the Company (\"Shareholders\") and will be available for inspection on the Kistos website:\n \n \n https://kistosplc.com/investors/circulars/\n \n \n . \n \n \n The Board views the Scheme as the most effective and appropriate way to structure the Group and, ultimately, to restructure the Group's debt facilities on a more efficient basis. The rights of Shareholders will remain unchanged following the Scheme and Shareholders will be able to trade their holdings in Kistos Holdings plc Ordinary Shares as they were able to do i...