TIDMELTA

RNS Number : 0762X

Electra Private Equity PLC

30 December 2021

Electra Private Equity PLC

Results of General Meeting

30 December 2021

The Board of Electra Private Equity PLC (the " Company ") is pleased to announce that at its general meeting held today (the " General Meeting ") the resolutions relating to:

1. the cancellation of the listing of the Electra Shares on the Official list, removal of the Electra Shares from trading on the Main Market and admission of the Electra Shares to trading on AIM (the "Delisting and Admission Resolution" );

2. approval of the settlement of Ian Watson's entitlement under the Hotter MIP by issuing new Electra Shares to him, as set out in section 4 of Part II of the Circular dated 9 December 2021 which was sent to shareholders (the "Ian Watson MIP Settlement Resolution" );

3. adoption of the Unbound LTIP, the proposed principal terms of which are set out in section 4 of Part V of the Circular, with effect from Admission (the "LTIP Resolution" ); and

4. the approval of the adoption of the New Articles of the Company with effect from Admission, so that the Company has articles of association that are suitable for a company admitted to AIM (the "New Articles Resolution" )

were all passed, resolutions 1 and 4 as special resolutions and resolutions 2 and 3 as ordinary resolutions.

The Delisting and Admission Resolution, the Ian Watson MIP Settlement Resolution, the LTIP Resolution and the New Articles Resolution were voted on by way of a poll and the results are set out below. As all of the resolutions have been duly passed by the requisite majority, the Delisting and Admission Resolution, the Ian Watson MIP Settlement Resolution, the LTIP Resolution and the New Articles Resolution are all carried.

Result of poll

 
 Resolution           Votes       %(2)      Votes       %        Votes        Proportion         Votes 
                      For(1)               Against                total      of the issued     withheld(4) 
                                                                             share capital 
                                                                             of the Company 
                                                                              represented 
                                                                              by all votes 
                                                                                 (%)(3) 
 Delisting 
  and Admission 
  Resolution        22,691,416   99.92%    17,069     0.08%    22,708,485        58.27            885 
                   -----------  -------              -------               ----------------  ------------- 
 Ian Watson 
  MIP Settlement 
  Resolution,       22,225,755   99.91%    20,493     0.09%    22,246,248        57.08          463,122 
                   -----------  -------              -------               ----------------  ------------- 
 LTIP Resolution    22,225,374   99.88%    27,393     0.12%    22,252,767        57.10          456,603 
                   -----------  -------              -------               ----------------  ------------- 
 New Articles 
  Resolution        19,306,469   85.03%   3,399,950   14.97%   22,706,419        58.26           2,951 
                   -----------  -------              -------               ----------------  ------------- 
 

1. Any proxy votes which were at the discretion of the chairman of the General Meeting have been included in the "For" total.

   2.     Percentages are expressed as a proportion of the total votes cast. 

3. As at the time of the meeting, there were 38,973,329 Electra Shares in issue and this figure has been used to calculate the percentage of the issued share capital of the Company represented by all votes. The Company held no shares in treasury.

4. A vote withheld is not a vote in law and is not counted towards the votes "For" or "Against" the Resolutions, nor in the calculation of the total votes cast.

Following the passing of the Resolutions, the Company expects to make the requisite applications in respect of the Delisting and the AIM Admission. The Delisting is expected to become effective at 8.00 a.m. on 31 January 2022 and the AIM Admission is expected to become effective at 8.00 a.m. on the same date, 31 January 2022.

Unless otherwise defined herein, capitalised terms in this announcement have the same meaning as in the shareholder circular published on 9 December 2021 available on the Company's website at www.electraequity.com .

The results of the General Meeting (including this information) will shortly be available on the Company's website at www.electraequity.com .

A copy of the Resolutions will shortly be submitted to the Financial Conduct Authority's Electronic Submission Service and can then be viewed on the National Storage Mechanism (NSM) at https://data.fca.org.uk/#/nsm/nationalstoragemechanism

-ENDS-

For further information please visit www.electraequity.com or contact:

Gavin Manson

Chief Financial and Operating Officer

Electra Private Equity PLC

17 Old Park Lane

London W1K 1QT

Tel: 44 (20) 3874 8300

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END

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December 30, 2021 07:14 ET (12:14 GMT)

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