Proposed cancellation of LAT shares
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The Company today announces the proposed cancellation of its three limited anti-takeover shares ("LAT shares"), being one class A LAT share of £1.00, one class B LAT share of £1.00 and one class C LAT share of £1.00.
As outlined in the Company's IPO Prospectus, the rights attaching to the LAT Shares expired three years from the date of admission. Therefore, on 5 October 2024, the LAT Shares ceased to carry any of their rights. Consequently, the holders of the LAT Shares propose to gift them to the Company for nil consideration, following which the Company proposes to immediately cancel them in accordance with section 662 of the Companies Act 2006.
Since the LAT shares have ceased to carry any of their rights, the total number of voting rights in the Company will not be changed by the proposed cancellation of the LAT shares.
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