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Tiziana Life Sciences Plc - Results of Court Meeting and General Meeting
LONDON, Sept. 27, 2021 (GLOBE NEWSWIRE) -- On 20 August 2021, Tiziana Life Sciences Plc (“Old Tiziana”) announced that it has formally commenced its strategic
About this update from Tiziana Life Sciences Ltd
[{"type":"text","content":"LONDON, Sept. 27, 2021 (GLOBE NEWSWIRE) -- On 20 August 2021, Tiziana Life Sciences Plc (“Old Tiziana”) announced that it has formally commenced its strategic plan to change its corporate structure by establishing Tiziana Life Sciences Ltd (“New Tiziana”), a Bermuda-incorporated company, as the ultimate parent company of the of the Tiziana Group, to be effected by means of a scheme of arrangement under Part 26 of the Companies Act 2006 (the “Scheme”). The board of directors of Old Tiziana (the “Board”) is pleased to announce that at the Court Meeting and the General Meeting held earlier today in connection with the Scheme: a majority in number of the Scheme Shareholders who voted (either in person or by proxy), representing not less than 75 per cent in value of the Scheme Shares held by the Scheme Shareholders approved the Scheme at the Court Meeting; andthe requisite majority of Old Tiziana Shareholders voted to pass the Special Resolutions and the Ordinary Resolution proposed at the General Meeting. Details of the resolutions passed are set out in the notices of the Court Meeting and the General Meeting contained in Parts VIII and IX (respectively) of the scheme document published and posted to Old Tiziana shareholders on 3 September 2021 (the “Scheme Document”). Full details of the Scheme are set out in the Scheme Document. The total number of ordinary shares in Old Tiziana in issue at the Voting Record Time (being 6.00 p.m. on 23 September 2021) was 194,612,289 ordinary shares of 3 pence each. As at the Voting Record Time, Tiziana did not hold any Old Tiziana shares in treasury. A summary of the voting results in relation to the Court Meeting and the General Meeting is set out below. Voting Results of the Court Meeting At the Court Meeting convened in accordance with an order of the Court dated 26 August 2021, a majority in number of the Scheme Shareholders who voted (either in person or by proxy) and who together represented 99.11 per cent. in value of the Scheme Shares held by those Scheme Shareholders, voted by way of poll in favour of the resolution to approve the Scheme. Each Scheme Shareholder, present in person or by proxy, was entitled to one vote for each Scheme Share held at the Voting Record Time. Accordingly, the resolution to approve the Scheme was duly passed. Details of the votes cast by Scheme Shareholders we...