Parkmead Group announces result of Annual General Meeting & share consolidation
- The Share Consolidation is based on every 15 Existing Ordinary Shares being consolidated into 1 New Ordinary Share and will become effective at 5.00p.m. today.
The Board of Parkmead is pleased to announce that at the Company's Annual General Meeting ("AGM"), held earlier today, all resolutions proposed were passed unanimously by shareholders.
Resolution 9, passed at the AGM, concerned the proposed Share Consolidation, details of which were outlined in an announcement on 22 November 2013 and detailed information on which were included in the Notice of AGM posted to shareholders accompanying the Company's Annual Report and Accounts.
The Share Consolidation is based on every 15 Existing Ordinary Shares being consolidated into 1 New Ordinary Share and will become effective at 5.00p.m. today.
Following the Share Consolidation, Shareholders will still hold the same proportion of the Company's ordinary share capital as before the Share Consolidation. Other than a change in nominal value, the New Ordinary Shares will carry equivalent rights under the Articles of Association to the Existing Ordinary Shares.
Following the Share Consolidation, the Company's issued ordinary share capital will comprise of 69,080,152 New Ordinary Shares. No change in the total nominal value of the Company's issued ordinary share capital will occur, which will still be approximately £1,036,202.
Share certificates for Existing Ordinary Shares will no longer be valid and should be destroyed once the new documentation is received. Until a holder of certificated New Ordinary Shares receives a new share certificate, transfers of certificated New Ordinary Shares will be certified against the register of members.
Shareholders who hold their entitlement in uncertificated form through CREST will have their CREST accounts credited to reflect their entitlement to New Ordinary Shares. The existing ISIN (GB0002532801) (SEDOL 0253280) will be disabled as at 5.00 p.m. on 16 December 2013 with Admission and dealings in the New Ordinary Shares under ISIN (GB 00BGCYZL73) (SEDOL BGCYZL7) commencing at 8.00 a.m. on 17 December 2013.
Expected timetable of principal events
| Latest time and date for dealings in Existing Ordinary Shares || 5.00 p.m. on 16 December 2013 |
| Record date and time for the Share Consolidation || 5.00 p.m. on 16 December 2013 |
| Admission and commencement of dealing in New Ordinary Shares || 8.00 a.m. on 17 December 2013 |
| CREST accounts credited with New Ordinary Shares || 8.00 a.m. on 17 December 2013 |
| Payment (where applicable) of fractional entitlements by cheque or CREST || Week commencing 30 December 2013 |
| Despatch (where applicable) of share certificates for New Ordinary Shares || Week commencing 30 December 2013 |
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