Business
Publication of Circular and Notice of GM
Publication of Circular and Notice of GM.
About this update from Primorus Investments Plc
[{"type":"text","content":"\n \nRNS Number : 6830N Primorus Investments PLC 26 September 2019 \n\nPrimorus Investments plc\n(\"Primorus\" or the \"Company\")\nPublication of Circular and Notice of General Meeting\nPrimorus Investments plc (AIM: PRIM, NEX: PRIM) announces that in order to bring the Company's share capital into line with the size of the Company, the Company is proposing a consolidation of the Company's issued and to be issued Ordinary Shares (the \"Consolidation\").\nThe terms of the proposed Consolidation are that every 20 Existing Ordinary Shares of 0.01 pence each will be consolidated into 1 New Ordinary Share of 0.2 pence each. Such New Ordinary Shares will have the same rights and be subject to the same restrictions (save as to par value) as the Existing Ordinary Shares. \nThe Company is today posting to shareholders a Circular with a notice of General Meeting seeking shareholder approval to grant the Directors of the Company authority to consolidate the Company's issued and to be issued Ordinary Shares.\nThe Company's general meeting (the \"General Meeting\") to approve the Consolidation will be held at 11:00 am on 16 October 2019 at the offices of Hill Dickinson LLP, 105 Jermyn Street, St. James', London, SW1Y 6EE. A copy of the Circular and Form of Proxy can be downloaded from the Company's website, at www.primorusinvestments.com.\nExtracts from the Circular are set out below and should be read in conjunction with the Circular.\nAlastair Clayton Executive Director commented - \"Having spoken to a large number of shareholders, our broker TPI and our NOMAD Cairn, we have concluded that a 1 for 20 consolidation is in the best interests of the Company. With a spread often exceeding 30% we feel this currently acts as a disincentive to investors seeking to purchase our stock in the market. As such, we feel this Consolidation, if approved, may help alleviate this issue by narrowing the spread thereby providing a clearer picture of market price for the Company's stock going forward. As such all memebers of the Board will be voting in support of this measure in respect of their own shareholdings.\"\nThis announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. \n \nFor further information, please contact:\n\n\n\nPrimorus Investments plc: \n\n\n+44 (0)...