Result of AGM
05/07/2022 10:48
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RNS Number : 3769R Immediate Acquisition PLC 05 July 2022
5 July 2022
Immediate Acquisition Plc
("IME", the "Group" or the "Company")
Result of Annual General Meeting
Immediate Acquisition Plc (AIM: IME) announces that at its Annual General
Meeting ("AGM") held earlier today, all resolutions were passed with the
requisite majorities. Resolutions 1-8 (inclusive) were passed as ordinary
resolutions. Resolutions 9, 10 and 11 were all in relation to the Directors'
authority to allot shares, this matter was covered in the resolutions put to
the general meeting held on 1 July and therefore the Directors decided to
withdraw resolutions 9, 10 and 11 from the AGM.
Voting was conducted by way of a poll and the results are set out below:
Resolution Votes for % of votes Votes Against % of votes Withheld Total Votes
1. To receive and adopt the Company's annual accounts for the year 7,678,780 100.00% Nil 0.00% Nil 7,678,780
ended 31 December 2021 together with the Directors' report and auditor's
report.
2. To receive and approve the Directors' remuneration report for the 7,678,780 100.00% Nil 0.00% Nil 7,678,780
year ended 31 December 2021.
3. To re-elect Tim Hipperson as a director of the Company. 7,678,780 100.00% Nil 0.00% Nil 7,678,780
4. To re-elect Mark Horrocks as a director of the Company. 3,078,780 100.00% Nil 0.00% Nil 3,078,780
5. To re-elect Simon Leathers as a director of the Company. 7,678,780 100.00% Nil 0.00% Nil 7,678,780
6. To re-appoint the auditors, Nexia Smith & Williamson. 7,678,780 100.00% Nil 0.00% Nil 7,678,780
7. To authorise the Directors to fix the remuneration of the auditors. 7,678,780 100.00% Nil 0.00% Nil 7,678,780
8. To affirm the sale of the Company's loan to Sprift Technologies 3,078,780 100.00% Nil 0.00% Nil 3,078,780
Limited, at face value, for a total cash consideration of £1.05 million to
Mark Horrocks, Non-Executive Director of the Company, for the purposes of
section 190 of the Companies Act 2006.
9. Withdrawn N/A N/A N/A N/A N/A N/A
10. Withdrawn N/A N/A N/A N/A N/A N/A
11. Withdrawn N/A N/A N/A N/A N/A N/A
For further information please contact:
Immediate Acquisition Plc Tel: +44 (0) 203 515 0233
Tim Hipperson, Non-executive Chairman
Simon Leathers, Non-executive Director
SPARK Advisory Partners Limited (Nomad) Tel: +44 (0) 203 368 3550
Mark Brady
Neil Baldwin
SP Angel Corporate Finance LLP (Broker) Tel: +44 (0) 207 470 0470
Abigail Wayne
Matthew Johnson
Buchanan Communications Tel: +44 (0) 207 466 5000
Chris Lane / Kim van Beeck / Jack Devoy
Information on Immediate Acquisition plc
Immediate Acquisition plc is currently an AIM Rule 15 cash shell. At a general
meeting on 1 July 2022, shareholders approved the acquisition of Fiinu
Holdings Limited ("Fiinu Holdings") (the "Acquisition"), a fintech company
and creator of the Plugin Overdraft®, which is classified as a reverse
takeover under AIM Rule 14. The Acquisition remains conditional, inter alia,
upon Fiinu's subsidiary, Fiinu 2 Ltd ("Fiinu 2"), receiving confirmation of
its Part 4A deposit taking licence from the UK regulators.
Information on Fiinu
Fiinu Holdings, founded in 2017, is a technology platform and provider of
consumer banking products.
Fiinu is comprised of two innovative businesses: Fiinu 2, which is in the
final stages of obtaining Part 4A Permission from the UK regulators and will
offer the group's flagship product, the Plugin Overdraft®, and Fiinu Ltd, a
provider of financial technology and alternative data solutions.
Fiinu's Plugin Overdraft® is an unbundled overdraft solution, whereby Fiinu
can provide its customers with an overdraft facility without them having to
switch their current account with their present bank, giving customers access
to affordable credit. Importantly, an overdraft does not negatively impact a
consumer's credit score and helps avoid expensive "payday lenders", giving
consumers the opportunity to build their credit rating.
Fiinu Ltd is the group's technology arm which will manage and develop the
group's platform utilising data insights and analytics.
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