REG - K3 Bus Tech Grp PLC - Result of General Meeting

K3 Business TechnologyAnnouncement

24/04/2025 16:30

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RNS Number : 1131G  K3 Business Technology Group PLC  24 April 2025

AIM: KBT

K3 BUSINESS TECHNOLOGY GROUP PLC

("K3" or "the Group" or "the Company")

 

Result of General Meeting

 

K3, which provides business-critical software solutions focused on fashion and
apparel brands, is pleased to announce that at today's General Meeting, the
Share Capital Reduction was duly approved by Shareholders.

The Company will now apply to the Court for confirmation of the Share Capital
Reduction, which will become effective once so confirmed and delivered to, and
registered by, the Registrar of Companies in England and Wales.

Expected timetable of remaining principal events

 Final hearing and confirmation of the Share Capital Reduction by the Court  10 June 2025
 Share Capital Reduction becomes effective                                   by 13 June 2025

Further announcements will be notified via a Regulatory Information Service if
any of the expected dates referred to above are changed.

Assuming completion of the Share Capital Reduction the Company currently
intends to put proposals to Shareholders for the return of approximately £29
million in cash to members by way of a Tender Offer and to de-list the
Company's Ordinary Shares from AIM as soon as practicable after the Tender
Offer.

The proxy votes cast prior to the General Meeting were as follows:

 Resolution  For         %      Against  %     Withheld*
 1           28,592,819  99.99  893      0.01  0

*A vote "Withheld" is not a vote in law and is not counted in the calculation
of the proportion of the votes "For" or "Against" the Resolution.

Capitalised terms used in this announcement have the meaning given to them in
the Company's circular dated 3 April 2025 unless the context required
otherwise.

Enquiries:

 K3 Business Technology Group plc       Oliver Scott, Chairman              T: c/o 020 3178 6378
 www.k3btg.com (http://www.k3btg.com/)  Eric Dodd, Chief Executive Officer

 Cavendish Capital Markets              Julian Blunt/ Dan Hodkinson         T: 020 7220 0500

 (NOMAD & Broker)                       (Corporate Finance)

                                        Sunila De Silva

                                        (Corporate Broking)

 KTZ Communications                     Katie Tzouliadis/ Robert Morton     T: 020 3178 6378

 

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