Result of General Meeting
Cancellation of Admission to Trading on AIM Re-Registration as a private company and Share Reorganisation
fastjet, the low-cost African airline, announces that at its General Meeting, held at 10.00 a.m. today, both of the proposed Resolutions were passed.
The voting was as follows:
|
Resolution |
For |
Against |
Abstain |
|
1. Cancellation of admission of the Ordinary Shares to trading on AIM, Share Reorganisation, amendment to the Current Articles and ongoing authority for the Directors to allot and issue new shares on a non-pre-emptive basis
|
2,697,982,752 votes
96.29% of those voting |
103,846,544 votes
3.71% of those voting |
156,866 votes
Less than 0.01% of those voting |
|
2. Re-registration of the Company as a private company under the Companies Act 2006 |
2,698,059,974 votes
96.30% of those voting
|
103,769,293 votes
3.70% of those voting |
156,895 votes
Less than 0.01% of those voting |
Cancellation of Admission to Trading on AIM
Following the passing of the Authorising Resolution at the General Meeting, pursuant to Rule 41 of the AIM Rules, the Company will now proceed with the cancellation of trading of its Ordinary Shares on AIM. The last day of dealings in Ordinary Shares will be Friday 21 August 2020 and, at 7:00 a.m. on Monday 24 August 2020, the admission to trading on AIM of the Ordinary Shares will be cancelled. Thereafter trading in the Ordinary Shares will be transferred to the Asset Match trading platform put in place by the Company - further details of which are set out in the Circular.
Share Reorganisation
At the Effective Time, being 6.00 p.m. today 12 August 2020, each Ordinary Share will be sub-divided into one new Ordinary Share of £0.0001 nominal value and one deferred share of £0.0099 nominal value. Following the Share Reorganisation, the Ordinary Shares are expected to be admitted to trading on AIM at 8.00 a.m. on Thursday 13 August 2020. The ISIN code for the Ordinary Shares will remain unchanged.
Re-Registration as a private company
Further to the passing of the Re-Registration Resolution at the General Meeting, the Company will also now apply to the Registrar of Companies for the Company to be re-registered as a private limited company. Re-registration as a private limited company is expected to occur by 15 September 2020.
Further details of the Cancellation, the Re-Registration and the Share Reorganisation have been set out in both the Circular and the announcement published by the Company on 24 July 2020.