REG - Cornerstone FS PLC - Notice of General Meeting

Cornerstone FSAnnouncement

18/11/2022 07:16

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RNS Number : 8900G  Cornerstone FS PLC  18 November 2022

18 November 2022

 

Cornerstone FS plc

("Cornerstone" or the "Company" or the "Group")

 

Notice of General Meeting

 

Cornerstone FS plc (AIM: CSFS), the cloud-based provider of international
payment, currency risk management and electronic account services to SMEs,
gives notice that it will be holding a general meeting of shareholders of the
Company (the "General Meeting") at 11.00am on 7 December 2022 at the offices
of Gracechurch Group, 48 Gracechurch Street, London EC3V 0EJ.

 

Background to the General Meeting

 

On 5 and 25 August 2022, Cornerstone announced the successful fundraising of
£1.085 million, the variation of share incentive arrangements with Rob
O'Brien and the issue of equity to the non-executive directors and company
secretary as part of their annual remuneration. As set out in those
announcements, the Company needs shareholder authorities to allot and issue
further shares to comply with its contractual obligations. The purpose of the
General Meeting is to seek shareholder approval to authorise the Board to
allot new shares to meet these obligations.

 

The Company holds irrevocable undertakings to vote in favour of all the
resolutions from Directors and other shareholders representing 23,855,926
 shares comprising approximately 50% of the issued share capital of the
Company save in respect of resolution 2 which relates to Rob O'Brien and
resolution 3 which relates to Mark Horrocks whereby those respective
shareholders are not eligible to vote on the relevant resolutions.

 

 

Publication of Circular

 

A Circular containing the Notice of the General Meeting has been published by
the Company and, together with a form of proxy, is being sent to shareholders.
A copy of the Circular and form of proxy will be  available on the Company's
website today at:  https://investors.cornerstonefs.com/document-centre/
(https://investors.cornerstonefs.com/document-centre/) .

 

Your attention is drawn to the letter from the Chairman of the Company that is
set out in the Circular and which contains, amongst other things, the
Directors' unanimous recommendation that shareholders vote in favour of the
resolutions to be proposed at the General Meeting.

 

Capitalised terms used in this announcement have the meanings given to them in
the Circular.

 

 

Enquiries

 

 Cornerstone FS plc                         +44 (0)203 971 4865
 James Hickman, Chief Executive Officer

 Judy Happe, Chief Financial Officer

 SPARK Advisory Partners Limited (Nomad)    +44 (0)203 368 3550
 Mark Brady, Adam Dawes

 SP Angel Corporate Finance LLP (Broker)    +44 (0)203 470 0470
 Jeff Keating, Harry Davies-Ball

 Gracechurch Group (Financial PR)           +44 (0)204 582 3500
 Harry Chathli, Claire Norbury

 

 

About Cornerstone FS plc

 

Cornerstone FS plc is a payments focused fintech business that makes managing
currency simple for SMEs. It provides international payment, currency risk
management and electronic account services using a proprietary cloud-based
multi-currency payments platform. These services are delivered directly and
via white label partners on a SaaS basis to UK-based SMEs that engage in
international trade. Cornerstone also serves some high-net worth individual
clients.

 

Headquartered in the City of London with offices in Tunbridge Wells and Dubai,
Cornerstone is admitted to trading on AIM under the trading symbol 'CSFS'. For
more information, please visit www.cornerstonefs.com (//www.cornerstonefs.com)
.

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