Business
Notice of AGM & Proposed Bonus Share Issue
Notice of AGM & Proposed Bonus Share Issue.
About this update from Solid State Plc
[{"type":"text","content":"\n\n\n \n8 August 2024\n \nSolid State plc\n(\"Solid State\", the \"Group\" or the \"Company\")\n \nNotice of Annual General Meeting\n &\nProposed Bonus Issue\n \nSolid State plc (AIM: SOLI), the specialist value added component supplier and design-in manufacturer of computing, power, and communications products, announces that it has sent a notice of its Annual General Meeting (\"AGM\") to shareholders who have requested a physical copy. The Company has also sent a physical form of proxy relating to the AGM to all shareholders. The notice of AGM and Annual Report & Accounts are available to view on the Company's website at: https://solidstateplc.com/reports-and-documents/ \nThe AGM will be held at 2 Ravensbank Business Park, Hedera Road Redditch B98 9EY, on 12 September 2024 at 9.30am.\nBonus Issue\nFollowing shareholder feedback, the Company is seeking to issue 4 new ordinary shares of £0.05p each (\"Bonus Shares\") for each ordinary share of £0.05 each held by shareholders at the record date, with a view to improving the liquidity and accessibility of the Company's shares, encourage retail participation and attract new investors while rewarding our long term shareholder base (the \"Bonus Issue\").\nThe Bonus Issue, if implemented following passing of the relevant resolution at the Annual General Meeting, would result in the Company having a significantly larger issued share capital figure expected to be approximately 57,000,000 Ordinary Shares at a reduced share price which, the Directors believe, would enhance accessibility of the Company's shares, particularly for retail investors, and improve liquidity.\nAccordingly, the Bonus Issue would result in shareholders holding a higher number of shares (4 additional Ordinary Shares for every existing Ordinary Share held at the bonus issue record date), at a lower share price. Each shareholder's proportionate interest in the share capital of the Company will remain unchanged. It is only the number of Ordinary Shares in issue which will have changed as a result of the Bonus Issue, and, other than this, each Bonus Share, will carry the same rights and entitlements as set out in the Company's Articles of Association that currently attach to the existing Ordinary Shares. The Bonus Shares will rank equally with one another. There will be no change ...