REG - Concurrent Tech. - Result of General Meeting

Concurrent TechnologiesAnnouncement

04/09/2023 13:30

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RNS Number : 3110L  Concurrent Technologies PLC  04 September 2023

4 September 2023

 

Concurrent Technologies Plc

("Concurrent Technologies" or the "Company")

 

Result of General Meeting

 

Concurrent Technologies Plc (AIM: CNC), a world leading specialist in the
design and manufacture of high-end embedded computer solutions for critical
applications, announces that at the General Meeting of the Company held
earlier today both resolutions were duly passed.

 

The Company is pleased to confirm that as a result of obtaining shareholder
approval for the Fundraising, which comprised an oversubscribed Placing and
Retail Offer, Concurrent Technologies has raised a total of £6.8 million
through the issue of 10,461,538 Ordinary Shares. The proceeds of the
Fundraising will enable the completion of the acquisition of the entire issued
share capital of Phillips Machine & Welding Company, Inc (the
"Acquisition"), which is due to complete on 6 September and a further
announcement will be released in due course relating to the Acquisition.

 

Total Voting Rights

 

The Company has applied for admission of the New Ordinary Shares pursuant to
the Fundraising to trading on AIM ("Admission"). Admission will occur at or
around 8.00 a.m. on 5 September 2023. On Admission, the Company will have
84,361,550 Ordinary Shares in issue, of which 531,522 Ordinary Shares are held
in treasury. Therefore, the figure of 83,830,028 Ordinary Shares may be used
by shareholders as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a change to
their interest in the Company under the FCA's Disclosure Guidance and
Transparency Rules.

 

Any term capitalised in this Announcement which is not also defined shall have
the same meaning as in the announcement made by the Company on 16 August 2023
entitled 'Proposed Acquisition and Notice of General Meeting' unless the
context requires otherwise.

 

Enquiries:

 

 Concurrent Technologies Plc
 Miles Adcock - CEO

                              +44 (0)1206 752626
 Kim Garrod - CFO

 SEC Newgate (Financial PR)     concurrent@secnewgate.co.uk
 Bob Huxford

                              07469 154806
 Alice Cho

 Matthew Elliott

 Cenkos Securities Plc (NOMAD)  +44 (0)131 220 9771
 Neil McDonald

                              +44 (0)131 220 9772
 Peter Lynch

 

Note to Editors:

 

About Concurrent Technologies Plc

 

Concurrent Technologies Plc develops and manufactures high-end embedded
computer products for use in a wide range of high-performance, long-life cycle
applications within the telecommunications, defence, security, telemetry,
scientific and aerospace markets, including applications within extremely
harsh environments. The processor products feature Intel® processors,
including the latest generation embedded Intel® Core™ processors, Intel®
Xeon® and Intel Atom™ processors.  The products are designed to be
compliant with industry specifications and support many of today's leading
embedded Operating Systems.  The products are sold world-wide.

 

For more information on Concurrent Technologies Plc and its products please
visit www.gocct.com.

 

All trademarks, registered trademarks and trade names used in this
announcement are the property of their respective owners.

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