17 April 2024
Chill Brands Group Plc
("Chill Brands", or the "Company")
Receipt of Requisition
Letter
Chill Brands Group Plc (AIM: CHLL) announces
that it has received a letter on behalf of Jonathan Mark Swann (the
"Requisitioner") seeking to
requisition a general meeting (the "GM") of the Company's shareholders (the
"Letter") under section 303
of the Companies Act 2006, as amended (the "Act").
Among other things, the Letter states that the
Requisitioner, through his broker, IG Trading and Investments
Limited, who has submitted the Letter as his nominee, is the
registered holder of a total of 63,707,000 ordinary shares of 1
pence each in the capital of the Company ("Ordinary Shares"), which would
represent 12.58% of the voting rights in the Company. Mr Swann has
a total disclosed holding of 68,075,000 Ordinary Shares, equivalent
to 13.45% of the issued Ordinary Shares. The Company is
taking legal advice as to the validity of the Requisitioner's
Letter and a further announcement will be made in due
course.
A summary of the resolutions proposed within
the Requisitioner's letter is as follows:
1.
the appointment of Graham Duncan as a director of the Company
with immediate effect;
2.
the appointment of Aditya Chathli as a director of the
Company with immediate effect;
3.
conditional upon the passing of Resolution 1 or 2, Antonio
Russo to be removed as a director of the Company with immediate
effect;
4.
conditional upon the passing of Resolution 1 or 2, Trevor
Taylor to be removed as a director of the Company with immediate
effect; and
5.
that any person appointed as a director of the Company since
the date of the requisition of the Requisitioned General Meeting at
which this resolution is proposed, and who is not one of the
persons referred to in the resolutions numbered 1 and 2 (inclusive)
above, be removed as a director of the Company with immediate
effect.
Shareholders
are advised to take no action at this time. The Board is deeply
concerned by this situation and stands behind its Directors.
Further announcements will be made as
appropriate.
Publication on
website
A copy of this announcement is also available
on the Group's website at:
http://www.chillbrandsgroup.com
Media
Enquiries
Chill Brands
plc
contact@chillbrandsgroup.com
Allenby
Capital Limited (Financial Adviser and Broker)
+44 (0) 20 3328 5656
Nick Harriss/Nick Naylor/Lauren Wright
(Corporate Finance)
Kelly Gardiner/Guy McDougall (Equity
Sales)
About Chill
Brands
Chill Brands Group plc (LSE: CHLL, OTCQB: CHBRF) is
an international consumer packaged goods company focused on the
development, marketing and distribution of wellness and
recreational products. The Company's proprietary nicotine-free vape
products cater to the rapidly growing market for tobacco
alternatives and are distributed by some of leading retail stores
in the US and UK. Chill Brands also operates the chill.com
e-commerce website, on which it is building a marketplace of
products from third-party brands.