Business
Publication of Circular and Notice of GM
Publication of Circular and Notice of GM.
About this update from Metir Plc
[{"type":"text","content":"\n\n4 December 2023\n \nMicrosaic Systems plc\n(\"Microsaic\" or the \"Company\")\n \nPublication of Circular and Notice of General Meeting\n \nFurther to the announcement on 13 November 2023 regarding the Company's intention to raise funds subject to, inter alia, the restoration of its Ordinary Shares to trading on AIM (the \"Fundraising\"), the Company today announces that it has posted a circular and notice of general meeting to shareholders convening a General Meeting (\"General Meeting\"), together with a form of proxy.\nThe Company is seeking Shareholder approval to take the necessary steps to enable the Fundraising to take place, which requires the passing of resolutions to enable a re-organisation of the Company's share capital, to provide authority to issue new shares and to wave pre-emption rights, and the adoption of new articles of association.\nCompletion of the Fundraising remains conditional upon, inter alia, the publication of both the FY22 audited annual accounts on a going concern basis (the \"Annual Report\") and the interim results for the six months ended 30 June 2023 (the \"Interim Results\"), the Company will still need to table a cancellation resolution (the \"Cancellation Resolution\") in case the resolutions to enable the Fundraising are not passed, or if for any other reason the Fundraising does not complete.\nIf the relevant resolutions are approved by the required majorities, with firm commitments obtained from investors prior to the General Meeting then being subject only to Admission of the new ordinary shares to be issued in connection with the Fundraising (the \"Fundraising Shares\"), the cancellation of admission to trading of the Company's ordinary shares on AIM would only be implemented in the event that the restoration to trading of the ordinary shares on AIM and admission of the Fundraising Shares did not become effective on or before 22 December 2022.\nThe General Meeting will be held at 9:30 a.m. on 19 December 2023 at the offices of Turner Pope Investments at 8 Frederick's Place, London, EC2R 8AB.\nThe Chairmans's letter from the Circular is reproduced in full below and provides further information in relation to the proposed Fundraising and the business of the General Meeting.\n\n\n\n\nEnquiries:\n\n\n\n\n\n\n\nMicrosaic Systems plc\nBob Moore\nExecutive Chairman\n\n\...