Notice of GM & Proposed Share Sub-Division
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The Board of RentGuarantor (AQSE: RGG), a provider of rent guarantee services to prospective tenants across the socio-economic spectrum wishing to rent property in the UK private rental sector, announces that the Company is convening a General Meeting of shareholders to be held at the offices of Druces LLP, Salisbury House, London Wall, London, EC2M 5PS on 6 June 2025 at 11.00 am (the "GM"). The notice of the GM (the "Notice"), which can be viewed at the link below, will be added to the Company's website and will be posted today to those shareholders who have requested a hard copy.
The principal business proposed at the GM will be the sub-division of the Company's ordinary shares. The Board is of the view that it would benefit the Company and Shareholders to, in advance of the intended move of the public quotation for trading in its ordinary shares to AIM, sub-divide the number of existing ordinary shares in issue on the basis of each existing ordinary share of £1 each ("Existing Ordinary Shares") being sub-divided into ten new ordinary shares of 10 pence each ("New Ordinary Shares") (the "Share Sub-Division"). This is expected to assist in enabling a more consistent valuation of the Company, making the Company's shares more attractive to institutional shareholders, and should improve liquidity in the New Ordinary Shares.
The proportion of the issued ordinary share capital of the Company held by each Shareholder following the Share Sub-division will (subject to the exercise of any Convertible Loan Notes) be unchanged. The structure of the Sub-Division is such that the Company will continue to meet the statutory requirement of having £50,000 minimum nominal value of issued share capital. Other than the change in nominal value, the New Ordinary Shares arising on implementation of the Share Sub-Division will have the same rights as the Existing Ordinary Shares, including voting, dividend and other rights.
The issued share capital of the Company immediately following the Share Sub-Division, is expected to comprise 118,791,740 New Ordinary Shares.
EXPECTED TIMETABLE OF PRINCIPAL EVENTS
| Circular posted to Shareholders | 12 May 2025 |
| Latest time and date for receipt of Forms of Proxy | 11.00 a.m. on 4 June 2025 |
| General Meeting | 6 June 2025 |
| Record Date for the Share Sub-Division | 6.00 p.m. on 6 June 2025 |
| Expected date on which New Ordinary Shares will be admitted to trading on AQSE | 8.00 a.m. on 9 June 2025 |
| Expected date on which CREST accounts credited with New Ordinary Shares | 9 June 2025 |
| Expected date by which definitive new share certificates are to be despatched | Week commencing 16 June 2025 |
Should the Share Sub-Division be approved, the Company's ISIN code for the New Ordinary Shares of 10 pence each will be GB00BSVJ8W91.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.