REG - Chill Brands Group - Receipt of Requisition Letter

Chill BrandsAnnouncement

17/04/2024 15:30

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RNS Number : 0197L  Chill Brands Group PLC  17 April 2024

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 (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.

 

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