Pires Investments PLC Result of AGM (0775K)
27 Agosto 2021 - 11:04AM
UK Regulatory
TIDMPIRI
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
share
"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
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