Business
Notice of AGM & Proposed Rule 9 Waiver
Notice of AGM & Proposed Rule 9 Waiver.
About this update from Primorus Investments Plc
[{"type":"text","content":"\n\n \nPrimorus Investments plc\n(\"Primorus\" or the \"Company\")\nNotice of AGM & Proposed Rule 9 Waiver\nPrimorus Investments plc (AIM: PRIM) announces that a circular to Shareholders giving Notice of the Annual General Meeting (\"AGM\") with accompanying Form of Proxy will be sent to Shareholders shortly. The circular includes a letter from the Chairman of the Company setting out details about the Resolutions being proposed at the AGM.\nThe AGM will be held on 8 July 2025 at 11:00 a.m. at Sackville House, 55 Buckhurst Avenue, Sevenoaks, Kent TN13 1LZ.\nProposed Share Buyback and Rule 9 Waiver\nThe Company has, since its annual general meeting held in June 2022, been granted by Shareholders the authority to make market purchases of its own shares, subject to specific conditions relating to price and volume, in common with many other UK public companies. The buyback authority was obtained to allow the Company to purchase Ordinary Shares through the London Stock Exchange if there was limited liquidity in the market, and if the Directors considered that it was in the best interests of the Company and Shareholders as a whole. Any purchased Ordinary Shares would be cancelled (in which case the number of shares in issue would thereby be reduced) or, alternatively, held as treasury shares depending on which course of action is considered by the Directors to be in the best interests of the Company and Shareholders as a whole at that time.\nAlthough no purchases by the Company of its Ordinary Shares have yet been made, the Company intends to seek Shareholder approval at the AGM to be held on 8 July 2025 of a new buyback authority for the Company to make on market purchases of up to 40 per cent. of its Issued Share Capital implemented by way of a share buyback. Accordingly, the Company will seek Shareholder approval of the Share Buyback Authority (\"Share Buyback Resolution\").\nThe Company has agreed with the Panel that the following persons are acting in concert in relation to the Company: Rupert Labrum and Hedley Clark, being the Executive Chairman and a Non-Executive Director respectively. Accordingly they (together with their close relatives and the related trusts of any of them) make up a concert party as defined by the Takeover Code (the \"Concert Party\"). As at the date of the Notice of AGM, the Concert Par...