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

K3 Business TechnologyAnnouncement

19/12/2024 13:15

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RNS Number : 8031Q  K3 Business Technology Group PLC  19 December 2024

AIM: KBT

K3 Business Technology Group plc

("K3" or "the Company")

 

Result of General Meeting to approve the Disposal of

NexSys Solutions Limited for £36.0m

 

K3, the provider of business-critical software solutions focused on fashion
and apparel brands, is pleased to announce that at a general meeting of the
Company, held today pursuant to Rule 15 of the AIM Rules for Companies, the
resolution to approve the sale of NexSys Solution Limited to SYSPRO, which is
operated by Safari UK Bidco Limited, a company controlled by funds managed
and/or advised by Advent International, LP, was passed by shareholders voting
on a poll.

 

The results of the poll are set out below.

 

 Votes for   %    Votes against  %  Total votes  % of issued share capital voted  Votes withheld
 40,797,860  100  0              0  40,797,860   91.2%                            0

 

Completion of the sale is expected to be on or around 8 January 2025 when the
Company will receive total cash consideration of £36.0 million (£34.4
million after deducting transaction costs).

 

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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