Business
Posting of Circular and Notice of Requisitioned GM
Posting of Circular and Notice of Requisitioned GM.
About this update from System1 Group Plc
[{"type":"text","content":"\n \n \n \n \n \n This replaces RNS number 0856U released on 24 March 2023 at 07:00. The replacement shows a higher resolution version of one of the charts included in the letter to the shareholders extracted from the Circular. The corrected announcement is provided in full below.\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 24 March 2023\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n System1 Group PLC (AIM: SYS1)\n \n \n \n (\"System1\", or \"the Company\", or \"the Group\")\n \n \n \n \n \n \n \n \n Posting of Circular and Notice of Requisitioned General Meeting\n \n \n \n \n \n \n As previously announced on 7 March 2023, System1 received an email from Stefan Barden (former System1 Chief Executive Officer and Board Adviser) and James Geddes (former System1 Chief Financial Officer) seeking to requisition a general meeting of the Company (the \"Requisition\") unless certain Board changes were agreed to by the Company's Board of Directors (the \"Board\").\n \n \n \n \n \n The following four ordinary resolutions will be proposed to shareholders for consideration at the General Meeting:\n \n \n (i) To retire Rupert Howell as Chairman and a Non-Executive Director of the Company;\n \n \n (ii) To elect Stefan Barden as Executive Chairman and a Director of the Company;\n \n \n (iii) To retire Philip Machray as a Non-Executive Director of the Company; and\n \n \n (iv) To re-elect John Kearon as a Director of the Company but moving into a Non-Executive capacity.\n \n \n \n \n \n Accordingly, the Company is today posting a circular to Shareholders (the \"Circular\") in response to the Requisition and a Notice of General Meeting (the \"Notice\") convening the requisitioned General Meeting for Shareholders which is to be held at the offices of Reed Smith LLP at The Broadgate Tower, 20 Primrose Street, London EC2A 2RS at 10:00 a.m. on 21 April 2023.\n \n \n \n The Board considers that all the resolutions proposed by the Requisitioning Shareholders are NOT in the best interest of the Company and the shareholders as a whole.\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n The Board will be voting against all of them and unanimously recommends that you do the same.\n \n \n \n Extracts from the letter to shareholders contained in the Circular i...