RNS Number : 0775K

Pires Investments PLC

27 August 2021

Pires Investments Plc

(the "Company")

Result of AGM

27 August 2021

The Company announces that at the Annual General Meeting, which was held earlier today, all resolutions were duly passed.

The results of the poll voting (which includes votes submitted by proxy) will be available shortly on the Company's website: https://piresinvestments.com/investors/

At the Annual General Meeting, the shareholders passed an ordinary resolution to approve the purchase by the Company of the following number of deferred shares in the capital of the Company (the "Buy-Back"), representing all outstanding deferred shares in the Company, pursuant to a share buy-back agreement to be entered into on or about the date hereof (the "Buy-Back Agreement"):

 Class                 Number          Nominal value per 
 "A" deferred shares   136,171,197     5 pence 
                      --------------  ------------------ 
 "B" deferred shares   55,570,856      4.9 pence 
                      --------------  ------------------ 
 "C" deferred shares   2,321,659,864   0.099 pence 
                      --------------  ------------------ 

Under the provisions of the Company's articles of association, the Company has the power to buy back each class of deferred shares for 1 pence in aggregate per class. The Buy-Back will be funded out of the proceeds of a new issue of three new ordinary shares of 0.25 pence at a price of 1 pence per share to Nicholas Lee.

On the passing of the ordinary resolution at the Annual General Meeting, the Company will have the authority to enter into the Buy-Back Agreement. All deferred shares bought back by the Company will be immediately cancelled.

A copy of the Buy-Back Agreement is available for inspection on the Company's website (https://piresinvestments.com/investors/) and at its Registered Office.

Application has been made for the three new ordinary shares to be admitted to trading on AIM on or around 3 September 2021.

Following the Buy-Back, the Company will have in issue 153,642,209 ordinary shares of 0.25 pence each. The Company expects to complete the Buy-Back on or about 3 September 2021.

As announced on 30 July 2021, Peter Redmond has stepped down as Chairman of the Company and retired as a director following the conclusion of the AGM. The Board thanks Peter for his service.

For further information please contact:

 Pires Investments plc              Tel: +44 (0) 20 3368 8961 
  Nicholas Lee, Director 
 Nominated Adviser 
  Cairn Financial Advisers LLP        Tel: +44 (0) 20 7213 0880 
  Liam Murray/Ludovico Lazzaretti 
 Joint Broker 
  Peterhouse Capital Limited          Tel: +44 (0) 20 7469 0935 
  Duncan Vasey/Lucy Williams          Tel: +44 (0) 20 7469 0936 
 Joint Broker                        Tel: +44 (0) 20 3167 7221 
  Tennyson Securities 
  Peter Krens 
 Financial media and PR 
  Yellow Jersey                       Tel: +44 (0) 20 3004 9512 
  Sarah Hollins 
  Henry Wilkinson 
  Annabelle Wills 

Notes to Editors

About Pires Investments plc

Pires Investments plc (AIM: PIRI) is an investment company providing investors with access to a portfolio of next generation technology businesses with significant growth potential.

The Company is building an investment portfolio of high-tech businesses across areas such as Artificial Intelligence, Internet of Things, Cyber Security, Machine Learning, Immersive Technologies and Big Data, which the Board believes demonstrate evidence of traction and the potential for exponential growth, due to increasing global demand for development in these sectors.

For further information, visit: https://piresinvestments.com/.

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(END) Dow Jones Newswires

August 27, 2021 12:04 ET (16:04 GMT)

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