This announcement contains inside information for the purposes
of Regulation 11 of the Market Abuse (Amendment) (EU Exit)
Regulations 2019/310. With the publication of this
announcement via a Regulatory Information Service, this inside
information is now considered to be in the public
domain.
16
February 2024
Location Sciences Group
PLC
("Location Sciences" or the "Company" or the
"Group")
Result of General
Meeting
Location Sciences (AIM: LSAI) is pleased to announce that at the
Company's General Meeting held earlier today, all resolutions
proposed, including the special resolutions, were duly passed.
Accordingly, the Proposals set out in the Admission Document are
now expected to complete, conditional on Admission, on 19 February
2024.
Change of name
The Company's change of name to
"Sorted Group Holdings Plc" and change of AIM ticker symbol to
"SORT" will take place once Companies House has issued a new
certificate of incorporation reflecting the change of name. The
change of name is expected to become effective imminently and the
Company will make a further announcement following the completion
of the change of name.
Change of website
In order to reflect the Company's
new name, the Company's website will be changed to www.sorted.com
with effect from Admission. The information required pursuant to
AIM Rule 26 will be available at this address.
Share Consolidation
As a result of the passing of the
Resolutions, the Share Consolidation will become effective as of
6.00 p.m. on 16 February 2024 and every 625 Existing Ordinary
Shares will be consolidated into one New Ordinary Share with a
nominal value of 62.5p each. Accordingly, the New Ordinary Shares,
including the Subscription Shares, the Remuneration Shares and the
CLN Shares are expected to be admitted to trading on AIM with
effect from 8.00 a.m. on 19 February 2024 under
the new ISIN and SEDOL of GB00BPDX2041 and BPDX204
respectively.
Application for Admission and Total Voting
Rights
Application has been made for
the Enlarged Share Capital of 7,639,705 New Ordinary
Shares to be admitted to trading on AIM and it is expected
that Admission will become effective on 19 February
2024.
Following Admission, the Company
will have 7,639,705 Ordinary Shares in issue, each with one
voting right. There are no shares held in treasury. Therefore, the
Company's total number of Ordinary Shares and voting
rights will be 7,639,705. This figure may be used by shareholders
from Admission 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.
Detailed results from the General Meeting
At the General Meeting held earlier
today all resolutions were duly passed on a show of hands with the
following table summarising proxy votes:
|
Resolution
|
Votes for
|
Votes
against
|
Approval
|
Withheld
|
|
Ordinary Resolutions
|
Shares
|
Shares
|
%
|
Shares
|
|
1. To approve the
Acquisition under resolution 1
|
1,641,451,823
|
242,683
|
99.98
|
25,344
|
|
2. To approve the Share
Consolidation under resolution 2
|
1,641,146,113
|
548,393
|
99.96
|
25,344
|
|
3. Authorise the Directors to
allot the Remuneration Shares under resolution 3
|
1,641,153,906
|
527,528
|
99.97
|
38,416
|
|
Special Resolutions
|
|
4. Authorise the Directors to
allot the Equity Shares under resolution 4
|
1,641,322,007
|
362,489
|
99.98
|
35,354
|
|
5. Change the name of
the Company to Sorted Group Holdings Plc under resolution
5
|
1,641,401,823
|
282,673
|
99.98
|
35,354
|
The number of Existing Ordinary
Shares in issue at the time of the General Meeting on 16 February
2024 was 2,647,587,500. A vote withheld is not a vote in law and is
not counted in the calculation of the proportion of votes 'For' or
'Against' a resolution.
The
same definitions apply throughout this announcement as those set
out in the Admission Document published on 30 January 2024, unless
the context requires otherwise.
For further information please
contact:
Location Sciences Group PLC
via Allenby Capital
Simon Wilkinson, Chairman
Allenby Capital Limited (Nominated
Adviser)
Tel: +44 (0)20 3328 5656
David Hart
Vivek Bhardwaj