REG - Steppe Cement Ltd - Result of EGM

Steppe CementAnnouncement

26/04/2024 10:00

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RNS Number : 2172M  Steppe Cement Limited  26 April 2024

26 April 2024

 

 

Steppe Cement Limited

("Steppe Cement" or the "Company")

 

Result of EGM

 

 

Steppe Cement Limited is pleased to announce the result of the EGM held
earlier today.

 

Shareholders approved the Special Resolution for a capital repayment of
approximately 1.5 pence per ordinary share of no par value each, effected by
way of Capital Reduction pursuant to Section 53(9A) of the Labuan Companies
act 1990 (the "Capital Repayment"), with 99.97% of votes cast in favour.

 

The share capital of the Company will be reduced from USD73,760,924 (divided
into 219,000,000 Ordinary Shares) to USD69,599,924 (divided into 219,000,000
Ordinary Shares), and that such reduction be effected by the capital repayment
of USD4,161,000, which will be paid in GBP, and is expected to represent
approximately 1.5 pence per ordinary share of no par value each, to Entitled
Shareholders at the Record Date.

 

The number of shares outstanding will remain the same at 219,000,000.

The Capital Repayment is expected to be completed later in Q2 2024, with
further announcements, including the Record Date, to be made in due course by
the Company.

Terms used in this announcement, but which are otherwise undefined shall have
the same meanings as set out in the Circular announced and published on 5
April 2024.

For further information, please contact:

 

 

 

 Steppe Cement Limited                                                 www.steppecement.com
 Javier del Ser Pérez, Chief Executive Officer                         Tel: +(603) 2166 0361

 Strand Hanson Limited (Nominated & Financial Adviser and Broker)      www.strandhanson.co.uk (http://www.strandhanson.co.uk)
 James Spinney / Ritchie Balmer / Robert Collins                       Tel: +44 20 7409 3494

 

The information contained within 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 by virtue of the Market
Abuse (Amendment) (EU Exit) Regulations 2019.

 

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