REG - Croma Sec. Sol. Grp - Result of General Meeting

Croma Security SolutionsAnnouncement

30/06/2023 09:45

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RNS Number : 5426E  Croma Security Solutions Group PLC  30 June 2023

Croma Security Solutions Group Plc

("CSSG", "Croma", "the "Company" or the "Group")

Result of General Meeting

 

Croma Security Solutions Group plc (AIM:CSSG) is pleased to announce  that
the Resolutions put to Shareholders at the General Meeting held earlier today
in connection with the sale of the entire issued share capital of its
subsidiary Vigilant Security (Scotland) Limited ("Vigilant"), were duly
passed. Accordingly, the Disposal of Vigilant is expected to complete
conditional on the Buy-Back being completed in accordance with its terms,
which is expected to take place later this afternoon. The results of the
voting will be included on the Company's website in due course,
www.cssgroupplc.com (http://www.cssgroupplc.com) .

The Buyer (at its sole discretion) has confirmed that it will be issuing the
Redeemable Share as part of the Consideration. As a result, the Consideration
will be satisfied as to (i) £1,073,314 payable in cash on Completion; (ii)
£4,126,686 by the issue of the Loan Notes; and (iii) £1,300,000 by the issue
of the Redeemable Share on Completion. In addition, inter-company balances of
£1,067,913 owed by Vigilant to the Company will be settled on Completion.
Therefore on Completion the Company will receive in aggregate £2,141,227 of
cash.

This announcement should be read in conjunction with the full text of the
Circular posted to Shareholders on 6 June 2023 copies of which are available
on the Company's website at www.cssgroupplc.com. Capitalised terms in this
announcement have the same meaning as given in the Circular.

 

 

For further information visit www.cssgroupplc.com or contact:

 

Croma Security Solutions Group
plc
Tel: +44 (0)1489 566 166

Roberto Fiorentino, CEO

Teo Andreeva, CFO

 

WH Ireland
Limited
Tel: +44 (0)207 220 1666

(Nominated Adviser and Broker)

Mike Coe

Sarah Mather

 

Novella
 
Tel: +44 (0)203 151 7008

Tim Robertson

Claire de Groot

Safia Colebrook

 

This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon
the publication of this announcement via a Regulatory Information Service,
this inside information is now considered to be in the public domain.

 

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