REG - Made Tech Group PLC - Result of AGM, Deferred Shares & Issue of Equity

Made TechAnnouncement

19/10/2022 17:30

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RNS Number : 4671D  Made Tech Group PLC  19 October 2022

19 October 2022

 

MADE TECH GROUP PLC

("Made Tech" or "the Group")

 

Result of AGM

Cancellation of Deferred Shares

Issue of Equity

 

 

Made Tech Group plc, a leading provider of digital, data and technology
services to the UK public sector, announces that, at its Annual General
Meeting ("AGM") held earlier today, all resolutions were duly passed. The
proxy voting results of the resolutions put to shareholders at the AGM will
shortly be available on the Company's website at www.madetech.com/.

 

Cancellation of Deferred Shares

 

The Company announces that it has purchased the 12,184,554 deferred shares of
0.1p each in the Company (the "Deferred Shares") for a total consideration of
£1, in order to cancel them.

 

The Company stated its intention to cancel the Deferred Shares in its AIM
Admission Document dated 30 September 2021, and the purchase of the Deferred
Shares was approved by shareholders at the Company's AGM held earlier today.

 

The Deferred Shares were issued to Rory MacDonald (Chief Executive Officer),
Chris Blackburn (Chief Operating Officer) and Luke Morton (Chief Technology
Officer) in conjunction with a capital reorganisation of the Company's share
capital, prior to its admission to AIM. The Deferred Shares do not comprise
the ordinary share capital of the Company, are not admitted to trading on AIM
and do not have any rights or value.

 

The interests of Rory MacDonald, Chris Blackburn and Luke Morton in the
ordinary shares of the Company are unchanged following the Company's purchase
of the Deferred Shares.

 

Issue of Equity and Total Voting Rights

 

In order for the Company to have adequate distributable reserves to acquire
the Deferred Shares, the Company will issue 5 new ordinary shares of 0.05p
each at a price of 22.5 pence per ordinary share.

 

Application has been made for the admission of 5 new ordinary shares in the
Company to be admitted to trading on AIM ("Admission"). The new ordinary
shares will rank pari passu with the existing issued ordinary shares of the
Company. It is expected that Admission will become effective and that trading
in the new ordinary shares will commence at or around 8.00 am on 25 October
2022.

 

On Admission, the total number of ordinary shares in the Company will be
149,287,059. The Company does not currently hold any ordinary shares in
treasury. Therefore, from Admission, the total number of voting rights in the
Company will be 149,287,059, which may be used by shareholders as the
denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest in the
Company under the FCA's Disclosure Guidance and Transparency Rules.

 

 

Enquiries:

 

 Made Tech Group plc                                      via Belvedere PR

 Rory MacDonald, CEO

 Deborah Lovegrove, CFO
 Singer Capital Markets (Nominated Adviser & Broker)      Tel: +44 20 7496 3000

 Mark Taylor / Harry Gooden / Asha Chotai
 Belvedere PR (Financial PR)

 Cat Valentine                                            Tel: +44 7715 769078

 Keeley Clarke                                            Tel: +44 7967 816525

                                                          Email: madetech@belvederepr.com (mailto:madetech@belvederepr.com)

 

About Made Tech

 

Made Tech is a high-growth provider of digital, data and technology services
to the UK public sector. Founded in 2008 and with a headcount of
over 470 people across multiple UK locations, Made Tech provides services
that enable central government, healthcare and local government organisations
to digitally transform.

 

 

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