Business
Notice of GM, Proposed Issue of Equity and RPT
Notice of GM, Proposed Issue of Equity and RPT.
About this update from Unigel Group Plc
[{"type":"text","content":"\n\n \n \n \n \n\n \nUnigel Group plc\n(the \"Group\" or the \"Company\")\nNotice of General Meeting, Proposed Issue of Equity and Related Party Transaction\n \nUnigel Group plc (AQSE: UNX), the manufacturer and supplier of materials used in the manufacture of telecommunication fibre optic cables announces that it has conditionally issued 3,173,106 new ordinary shares at a price of 64 pence per new ordinary share to Unigel Limited (\"Share Issuance\"), a Hong Kong incorporated company, in lieu of a £2,030,787.84 loan owed to Unigel Limited. The Share Issuance is conditional upon shareholder approval at the Company's forthcoming general meeting.\n \nRelated Party Transaction\n \nUnigel Limited is considered a \"Related Party\" as a result of Eric Chhoa, a director of the Company, being the sole shareholder of Unigel Limited. Accordingly, the Share Issuance constitutes a related party transaction for the purposes of Rule 4.6 of the AQSE Growth Market Access Rulebook.\n \nThe directors of the Company independent of the Share Issuance confirm that, having exercised reasonable care, skill and diligence, the related party transaction is fair and reasonable insofar as the shareholders of Unigel Group plc are concerned.\n \nIf the Share Issuance is approved, Eric Chhoa will hold 9,667,560 ordinary shares in the Company representing 66.9 per cent. of the Company's enlarged issued share capital.\n \nNotice of General Meeting\n \nThe Company announces that it has convened a General Meeting (\"GM\") of the Company which will be held on 23 February 2024 at 11:00 a.m. at the offices of Shakespeare Martineau LLP at 6th Floor, 60 Gracechurch Street, London, EC3V 0HR, United Kingdom.\n \nA notice of GM, together with the form of proxy, has been sent to the shareholders of the Company (\"Shareholders\") today. The notice of GM will also be shortly available for inspection on the Company website, http://www.unigel.com.\n \nFull details of the operation and arrangements for the GM are set out in the notice of GM.\n \nThis announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.\n \nEnquiries: \n \n\n\n\n\nUnigel Group plc\n\n\n \n\n\n...