REG - i-nexus Global PLC - Result of General Meeting

i-nexus GlobalAnnouncement

13/12/2024 14:45

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RNS Number : 0905Q  i-nexus Global PLC  13 December 2024

13 December 2024

 

i-nexus Global plc

("i-nexus", the "Company" or the "Group")

 

Result of General Meeting

 

Further to the announcement on 26 November 2024, i-nexus Global plc (AIM:
INX), a leading provider of cloud-based Strategy software solutions designed
for the Global 5000, announces that at the General Meeting of the Company
held earlier today, both Resolutions were duly passed.

 

The number of votes cast for and against both of the Resolutions proposed, and
the number of votes withheld were as follows:

 

 Resolution                                                                      Votes for   %   Votes against  %  Votes withheld*
 1.    To approve the cancellation of the admission of the Shares to trading     18,845,928  91  1,843,696      9  1,000
 on AIM (being the market of that name operated by the London Stock Exchange
 plc)
 2.    To approve the re‐registration of the Company as a private limited        18,845,928  91  1,843,696      9  1,000
 company under the Companies Act 2006 with the name i‐nexus Global Limited
 and the adoption of the New Articles

*A vote withheld is not a vote in law and any such votes have not been
included in the votes for and against the respective Resolutions.

 

The full text of the Resolutions can be found in the circular containing,
inter alia, the notice of General Meeting, which was published and posted to
Shareholders on 26 November 2024 (the "Circular") and is available on the
Company's website at https://i-nexus.com/company/investor-center/
(https://i-nexus.com/company/investor-center/) .

 

In accordance with the passing of Resolution 1, Cancellation is expected to
become effective at 7.00 a.m. on 27 December 2024 and not at 8.00 a.m. as
previously notified. In accordance with the passing of Resolutions 1 and 2 and
subject to the Cancellation becoming effective, the Company will re-register
as a private company limited by shares and adopt the new articles of
association with effect from such re-registration.

 

The expected timetable of principal events in relation to the Circular and
Re-registration is as follows:

 

 Last day of dealing in Ordinary Shares on AIM           24 December 2024
 Time and date of cancellation                           7.00 a.m. on 27 December 2024
 Secondary Market Trading Facility for Shares commences  30 December 2024
 Re-registration as a private company                    13 January 2025

 

Dealing and settlement arrangements following Cancellation

 

The Company intends to introduce a Secondary Market Trading Facility for the
Shares, to help facilitate purchases or sales of shares once it is a private
company. This flexibility is so that Shareholders have the option to sell
their Shares should they wish to do so but do not need to make that decision
immediately.

The Secondary Market Trading Facility will be provided by Asset Match, which
is authorised and regulated by the Financial Conduct Authority (FRN 579310).
Further details of the Secondary Market Trading Facility can be found at
www.assetmatch.com. This facility will allow existing Shareholders and new
investors to trade Shares by matching buyers and sellers through periodic
auctions. Investors are encouraged to register on www.assetmatch.com and add
i-nexus to their 'Watchlist' to continue to receive Company updates and
auction/price information.

 

Shareholders wishing to trade these securities can do so through their
stockbroker. The Asset Match trading facility operates under its own code of
practice which governs the behaviour of participants and the running of the
periodic auctions. Asset Match operates an open auction system where volumes
of bids and offers at different prices are displayed in an order book on its
website together with the closing date of the auction. At the end of each
auction period, Asset Match passes this information through a
non-discretionary algorithm that determines a "market-derived" share price
based on supply and demand and allocates transactions accordingly. Bids and
offers may be made and withdrawn at any time before the closing date of each
auction.

 

Shareholders will continue to be able to hold their Shares in uncertificated
form (in CREST) and should check with their existing stockbroker whether they
are willing or able to trade in unquoted shares. Shareholders wishing to trade
shares through Asset Match must do so through a stockbroker. A comprehensive
list of stockbrokers who have signed up to access the Asset Match platform is
available on request from Asset Match.

 

Full details will be made available to Shareholders on the Company's website
at www.i-nexus.com and directly by letter or e-mail (where appropriate).
Shareholders may contact Asset Match in relation to any queries regarding
trading via the secondary market trading facility by emailing
dealing@assetmatch.com (mailto:dealing@assetmatch.com) .

 

The Secondary Market Trading Facility is expected to be available for a period
of at least one year after Cancellation. The Directors' current intention is
that it will continue beyond that time but Shareholders should note that it
could be withdrawn and therefore inhibit the ability to trade the Shares.
Further details will be communicated to the Shareholders at the relevant time.

 

Shareholders are invited to retain their Shares in the Company, but are
welcome to participate in the quarterly auctions under the Secondary Market
Trading Facility operated by Asset Match, which will allow Shareholders to
sell down their holdings should they wish to do so.

 

The Company expects the Secondary Market Trading Facility to be available for
Shareholders who wish to sell their Shares to make that instruction from 30
December 2024, with the first auction closing on 14 February 2025 followed by
quarterly auctions thereafter.

 

For further information please contact:

 i-nexus Global plc                                     Via: Alma

 Simon Crowther, CEO

 Drew Whibley, CFO

 Singer Capital Markets (Nominated Adviser and Broker)  Tel: +44 (0)207 496 3000

 Sandy Fraser / Alex Bond (Investment Banking)

 Alma Strategic Communications                          Tel: +44 (0)203 405 0205

 Caroline Forde / Robyn Fisher

 

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