Business
Publication of Annual Report & Notice of AGM
Publication of Annual Report & Notice of AGM.
About this update from Solid State Plc
[{"type":"text","content":"\n \nRNS Number : 3334T Solid State PLC 03 July 2018 \n\n \nSolid State plc\n(\"Solid State\", the \"Group\" or the \"Company\")\n \nPublication of the Annual Report and Accounts and the notice of the AGM.\n \nSolid State plc (AIM: SOLI), the AIM listed manufacturer of computing, power and communications products, and value added distributor of electronic components, announces that its Annual Report and Accounts for the year ended 31 March 2018 and the notice of the AGM document have been published and are available in electronic form on the Company's website http://www.solidstateplc.com. Copies of the Annual Report and Accounts will also be available from the Company's registered office 2 Ravensbank Business Park, Hedera Road, Redditch, B98 9EY. \n \nNotice of Investor Lunch:\nAn investor lunch for Private Client Investment Managers and Private Investors will be held on Monday 9 July at St Pauls, London. Those interested in attending should contact Tom Cooper on 0797 122 1972 or [email protected]. \n \nExplanation of the special resolution in respect of the Non-Compliant Dividend and Related Party Transactions\nThe Board of Solid State PLC has become aware of a certain administrative non-compliance issue in respect of the payment of a historical interim dividend it paid on 26 November 2016 (the \"Relevant Dividend\"). Full details of this non-compliance issue are set out in the Company's Annual Report and notice of the general meeting.\nAt all relevant times the Company had adequate distributable reserves to allow the payment of the Relevant Dividend, however the interim accounts required to show the requisite level of distributable reserves were not filed at Companies House prior to declaring and making the Relevant Dividend. This has resulted in a technical infringement of the Companies Act 2006 (\"Companies Act\"). This issue only affects the Relevant Dividend and does not affect any other dividends declared and paid by the Company. The total aggregate amount of the Relevant Dividend was £335,199.76.\nThe issue is of a historical nature. There is no change to the financial outlook of the Company as a consequence of this technical matter. It also has no impact on the Company's intentions or ability to pay dividends in the future. No fines or other penalties have been incu...