Business
Notice of General Meeting
Notice of General Meeting.
About this update from Supply@me Capital Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8007U\n Supply @ME Capital PLC \n 07 December 2021\n \n \n \n \n 7 December 2021\n \n \n \n \n \n \n \n \n Supply@ME Capital plc\n \n \n (The \"Company\", \"the Group\" or \"SYME\")\n \n \n Notice of General Meeting\n \n \n Companies Act 2006: serious loss of capital which arose in FY2014 when the Company was listed on AIM with the name Imaginatik plc\n \n \n Supply@ME Capital plc, the innovative fintech platform (the \"Platform\") which provides the Inventory Monetisation© service to manufacturing and trading companies, gives notice that a general meeting of the Company's shareholders will be held at the offices of Cicero/amo, HKX Building, 3 Pancras Square, London, N1C 4AG at 11 a.m. on 30 December 2021 (\"the General Meeting\"). \n \n \n The formal Notice of General Meeting and accompanying letter from the Chair of the Audit Committee, David Bull, are today being sent to all shareholders and will be available on the Company's website, at www.supplymecapital.com.\n \n \n Under the Companies Act 2006 (the \"Act\"), a \"serious loss of capital\" occurs once the value of a company's net assets is less than half of its called-up share capital. In such circumstances, the directors are required, pursuant to section 656(1) of the Act, to call a general meeting to consider whether any, and if so what, steps should be taken to deal with the situation. \n \n \n Having reviewed the historical financial information of the Company, the current directors believe that the situation giving rise to the serious loss of capital actually first arose in FY2014 when the Company was listed on AIM with the name Imaginatik plc. The current directors have attempted to ascertain whether a general meeting was held by the Company around that time and have contacted a number of previous directors to obtain further information. They have concluded from the results of these enquiries that it is unclear whether the then-directors dealt with the issue as required by the Act and accordingly are calling the General Meeting.\n \n \n Accordingly, the board is calling the General Meeting to ensure that this matter is addressed with shareholders as required by the Act.\n \n \n Although the directors are calling the General Meeting now, as required by the Act, shareholders should be aware that the issue is not specific...