Client NewsZAIM Credit Systems PLC – Posting of notice of General Meeting “GM”
Adalan Ventures plc (the ‘Company’ or ‘Adalan’), announces that it has posted a notice of general meeting and forms of proxy to registered shareholders for the purpose of considering and if thought fit passing the Resolutions set out below, of which resolutions 1 and 2 will be proposed as ordinary resolutions and resolution 3 will be proposed as a special resolution.
Resolution 1 – Share Capital Reclassification
THAT, in accordance with section 618 of the CA 2006, every one (1) ordinary share of £0.01 each in the capital of the Company be and it is sub-divided and reclassified into one (1) ordinary share of £0.001 each and nine (9) deferred shares of £0.001 each in the capital of the Company, with each having the rights and restrictions (save as to nominal value) set out in the New Articles (as defined below).
Resolution 2 – Consolidation of Shares
THAT, subject to the passing of Resolution 1 above, in accordance with section 618 of the CA 2006, (i) the 461,975,000 ordinary shares of £0.001 each in the issued share capital of the Company be consolidated into 46,197,500 ordinary shares of £0.01 each, such shares having the same rights and being subject to the same restrictions as the existing ordinary shares of £0.01 each in the capital of the Company and (ii) 4,157,775,000 deferred shares of £0.001 each in the issued share capital of the Company be consolidated into 415,777,500 deferred shares of £0.01 each (together “Consolidated Shares” or each a “Consolidated Share”), with each Consolidated Share having the rights and restrictions set out in the New Articles (as defined below).
Resolution 3 – Adoption of New Articles
THAT, subject to and conditional upon the passing of Resolutions 1 and 2 above, with effect from the conclusion of the meeting, the proposed articles of association produced to the meeting and, and for purposes of identification, initialled by the Chairman, be adopted as the new articles of association of the Company in substitution of the existing articles of association of the Company (the “New Articles”).
The GM will be held at 12.00 pm on 24 July 2023 at 8 St James’s Square, St James’s, London, SW1Y 4JU, United Kingdom.
Shareholders are encouraged to exercise their GM voting rights by submitting the proxy form attached with the GM notice. The deadline for submission of proxies to the Registrar is 12.00 pm 20 July 2023. You are advised to appoint the chairman of the meeting as your proxy to ensure your vote is counted.
The notice along with the form of proxy can be found at the company’s website: https://adalanventures.com/
The result of the GM will be announced shortly after its conclusion and published on the Company’s website noted above.
A full copy of the notice of meeting along with accompanying notes follows this announcement
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