REG - RA Intnl Group PLC - Capital Reduction – Result of General Meeting

Ra InternationalAnnouncement

22/11/2023 15:15

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RNS Number : 3669U  RA International Group PLC  22 November 2023

22 November 2023

RA INTERNATIONAL GROUP PLC

("RA International", "RA" or the "Company")

 

Capital Reduction - Result of General Meeting

 

RA International Group PLC (AIM: RAI), a specialist provider of complex and
integrated remote site services to organisations globally, announced on 2
November 2023 that a shareholder circular ("Circular") containing a notice of
general meeting (the "General Meeting") and Form of Proxy were posted to
shareholders. The Circular set out the details of a proposal to reduce the
Company's capital by the cancellation of the Company's share premium account
in order to create distributable reserves (the "Capital Reduction").

The Capital Reduction was conditional, inter alia, upon the Company obtaining
approval by shareholders at a General Meeting, and confirmation by the Court.
The Company is pleased to announce that at its General Meeting held earlier,
the Capital Reduction resolution put to Shareholders was duly passed.

 

The resolution was proposed as a special resolution. The proxy votes cast in
respect of the resolution were as follows:

 

 RESOLUTIONS                              Votes For    %       Votes Against  %      Total Votes Cast  Votes withheld
 1.   To approve the Capital Reduction    147,676,460  99.98%  24,789         0.02%  147,701,249       11,190

 

A vote "Withheld" is not a vote in law and is not counted in the calculation
of the percentage of shares voted "For" or "Against" any resolution.

The Company will now apply to the Court for confirmation of the Capital
Reduction. The Capital Reduction will only become effective if the Court
confirms that it is satisfied that the interests of any creditors (including
contingent creditors) of the Company, whose debts remain outstanding on the
date of the Court Order are registered and protected. This may require the
Company to give undertakings to the Court to protect creditors.

EXPECTED TIMETABLE OF REMAINING PRINCIPAL EVENTS

 Directions hearing                                                    8(th) December 2023
 Final hearing and confirmation of the Capital Reduction by the Court  19(th) December 2023
 Capital Reduction becomes effective                                   20(th) December 2023

The information communicated in this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of United Kingdom domestic law
by virtue of the European Union (Withdrawal) Act 2018, as amended.

Enquiries:

 RA International Group PLC                    Via Strand Hanson

 Sangita Shah, Chair

 Soraya Narfeldt Chief Executive Officer

 Strand Hanson (Nominated Adviser and Broker)  +44 (0)207 409 3494

 Ritchie Balmer/James Spinney/David Asquith

 

About RA International

RA International is a leading provider of services to remote locations. The
Company offers its services through three channels: construction, integrated
facilities management and supply chain, and services two main client groups:
humanitarian and aid agencies and western government organisations focusing on
overseas projects. It has a strong customer base, largely comprising UN
agencies, UK and US government departments and global corporations.

The Company provides comprehensive, flexible, mission critical support to its
clients enabling them to focus on the delivery of their respective businesses
and services. Focusing on integrity and values alongside making on-going
investment in its people, locations and operations has over time created a
reliable and trusted brand within its sector.

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