TIDMNTBR

RNS Number : 5786T

Northern Bear Plc

15 November 2023

15 November 2023

Northern Bear plc

("Northern Bear", the "Company" or, together with its subsidiaries, the "Group")

Result of General Meeting and Directorate Change

Northern Bear is pleased to announce that, at the General Meeting of the Company held today, the resolution to return up to GBP3.1 million by way of Tender Offer for up to 5,000,000 Ordinary Shares at a fixed price of 62 pence per Ordinary Share was duly passed by shareholders. The record date for the Tender Offer is 18:00 on 22 November 2023 and an announcement regarding the result of the Tender Offer is expected to be published on 29 November 2023 along with the Company's interim results for the half year to 30 September 2023.

The results of the proxy voting from the General Meeting are set out below:

 
 Resolution              For         %     Against    %        Vote          Vote      Withheld* 
                                                               Total         Total 
                                                             (including      as % 
                                                               votes       of Issued 
                                                             withheld)       Share 
                                                                            Capital 
 1. To authorise 
  the Company to 
  buy back its own 
  shares.             11,049,443   99.69   34,100    0.31   11,083,543    59.19        Nil 
                     -----------  ------  --------  -----  ------------  -----------  ----------

* Includes discretionary votes

** Excludes withheld votes

Following conclusion of the General Meeting and as set out in the Circular dated 23 October 2023, Jeff Baryshnik has resigned from his role as Non-Executive Chairman and as a director of the Company with immediate effect. The board would like to thank Jeff for his service as a director of the Company. Harry Samuel, one of the Company's current Non-Executive Directors, will assume the position of Interim Non-Executive Chairman until such time as the Board has identified and appointed a permanent successor.

Capitalised terms used but not otherwise defined in this announcement have the meaning given to them in the announcement issued by the Company on 23 October 2023.

For further information, please contact:

 
 Northern Bear PLC 
  Harry Samuel - Interim Non-Executive Chairman 
  Tom Hayes - Finance Director                     +44 (0) 166 182 0369 
 Strand Hanson Limited (Nominated Adviser) 
  James Harris 
  James Bellman                                    +44 (0) 20 7409 3494 
 
   Hybridan LLP (Nominated Broker) 
   Clarie Louise Noyce                             +44 (0) 20 3764 2341

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END

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November 15, 2023 07:00 ET (12:00 GMT)

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