TIDMPRP

RNS Number : 7254Y

Prime People PLC

03 January 2020

3 January 2020

Prime People plc

("Prime People" or the "Company")

Result of General Meeting

Prime People (AIM: PRP) announces that the special resolution proposed at the General Meeting held earlier today, was duly passed by Shareholders on a show of hands.

The total proxy votes cast prior to the General Meeting were as follows:

 
 Resolution      For        %     Against    % 
     1        7,125,327   100.0      0      0.00 
             ----------  ------  --------  -----

Accordingly, the proposed Capital Reduction will take effect if confirmed by the Court in the terms proposed by the Board and upon the order of the Court being lodged with, and registered by, the Registrar of Companies, which is expected to take place on 22 January 2020. Assuming the Capital Reduction takes effect on 22 January 2020, the Ordinary Shares will be marked ex on that date.

The effect of the proposed Capital Reduction will be to cancel GBP2 million, being part of the amount standing to the credit of the Share Premium Account, so that that this sum may be paid to Shareholders who are on the Company's register of members at 6:00 p.m. on the Record Date (expected to be 21 January 2020) pro rata to their respective holdings of Ordinary Shares at 6:00 p.m. on that day. Taking into account the recent exercises of share options, it is currently expected that the Company may be able to return approximately 16.3 pence per Ordinary Share on or around 29 January 2020 (calculated by reference to the expected number of Ordinary Shares in issue at the Record Date and assuming no further exercises of any share options).

A further announcement will be made following the Capital Reduction becoming effective.

Unless the context requires otherwise, defined terms used in this announcement shall have the meanings given to them in the Circular dated 18 December 2019.

A copy of the Circular is available on the Company's website at www.prime-people.co.uk.

For further information, please contact:

 
 
 Prime People                        020 7318 1785 
 Donka Zaneva-Todorinski, Finance 
  Director 
 
 
 Cenkos Securities plc               020 7397 8900 
 Katy Birkin / Harry Hargreaves

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END

ROMUOUURRAUARAR

(END) Dow Jones Newswires

January 03, 2020 07:24 ET (12:24 GMT)

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