10 June 2024
Aterian plc
("Aterian" or the "Company")
2024 Annual General Meeting Results
Aterian Plc (LSE: ATN), the critical metal-focused exploration and development company, is pleased to announce that at the Company's Annual General Meeting, held earlier today, all resolutions were duly passed.
The results of the poll were as follows:
Percentage | Percentage | Votes Cast as | ||||
Resolution | For | Against | Votes Cast | % of Issued | ||
of Votes Cast | of Votes Cast | |||||
Share Capital | ||||||
1. To receive and consider the financial statements of the | 547,309,827 | 100.00% | 10,000 | 0.00% | 547,319,827 | 50.25% |
Company for the period ended 31 December 2023 | ||||||
2. To approve the Directors' remuneration policy for the | 547,259,827 | 99.99% | 60,000 | 0.01% | 547,319,827 | 50.25% |
financial year ended 31 December 2024 | ||||||
3. To re-elect Charles Bray as a director of the Company | 547,309,827 | 100.00% | 10,000 | 0.00% | 547,319,827 | 50.25% |
4. To authorise the re-appointment of MHA MacIntyre | 533,482,924 | 97.47% | 13,836,903 | 2.53% | 547,319,827 | 50.25% |
Hudson as auditors of the Company | ||||||
5. To approve the share split | 547,259,827 | 99.99% | 60,000 | 0.01% | 547,319,827 | 50.25% |
6. To approve the share consolidation | 547,259,827 | 99.99% | 60,000 | 0.01% | 547,319,827 | 50.25% |
7. To authorise the Directors to allot shares in the | 547,309,827 | 100.00% | 10,000 | 0.00% | 547,319,827 | 50.25% |
Company | ||||||
SPECIAL RESOLUTION 8. To authorise the Directors to | ||||||
allot equity securities for cash and/or to sell ordinary | 547,259,827 | 99.99% | 60,000 | 0.01% | 547,319,827 | 50.25% |
shares with the disapplication of pre-emption Rights |
In accordance with UK Listing Rule 9.6.2R copies of all the resolutions passed other than resolutions concerning ordinary business have been submitted to the Financial Conduct Authority via the National
Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
A copy of the poll results for the Annual General Meeting will also be available on the Aterian plc website: www.aterianplc.com.
At the meeting, inter alia, a resolution was passed which approved the sub-division and conversion of each existing ordinary share of £0.01 ("Existing Ordinary Shares") into one ordinary share of £0.001 (a "Revised Ordinary Share") and one deferred share of £0.009 (a "Deferred Share") (each such Deferred Share having no voting or dividend rights and effectively being worthless) to enable the Company to reduce the nominal value of its shares.
A further resolution then approved the consolidation of the Company's Revised Ordinary Shares on a 100 to 1 basis, such that every 100 Revised Ordinary Shares of £0.001 each were consolidated into 1 ordinary share of £0.10 in nominal value ("New Ordinary Share").
As a result, the Company's current issued share capital of 1,089,171,000 Existing Ordinary Shares of £0.01 was consolidated into 10,891,710 New Ordinary Shares of £0.10, each with one voting right and 1,089,171,000 Deferred Shares. Admission in respect of such New Ordinary Shares will become
effective and that dealings in those New Ordinary Shares will commence on 11 June 2024. As a result of the reorganisation, the ISIN of the New Ordinary Shares will change from GB00BKS7ZV87 to GB00BPJMN573.
The above figure of 10,891,710 new ordinary shares should be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.