Bagir Group Ltd Result of EGM (4327D)
October 09 2018 - 6:45AM
UK Regulatory
TIDMBAGR
RNS Number : 4327D
Bagir Group Ltd
09 October 2018
9 October 2018
Bagir Group Limited
("Bagir" or the "Company")
Result of EGM
Bagir (AIM: BAGR), a designer, creator and provider of
innovative tailoring, is pleased to announce that at the
Extraordinary General Meeting ("AGM") held earlier today, all
resolutions were duly passed. The resolutions to effect the
Proposed Investment by Shandong Ruyi, being resolution 1, 2 and 4
were passed with 100% of votes cast in favour of the
resolutions.
Completion of the Proposed Investment is now conditional upon
satisfaction (or, where applicable, waived by Bagir and/or Shandong
Ruyi Technology Group) of the obtaining of all necessary approvals
by each of the China Provincial Development and Reform Commission,
the Department of Commerce and the State Administration of Foreign
Exchange and the receipt of the Cash Payment from Shandong Ruyi. On
completion of the remaining conditions, application will be made
for the New Ordinary Shares to be admitted to trading on AIM.
The Board looks forward to updating the market on the completion
of the Proposed Investment shortly.
Eran Itzhak, Chief Executive Officer of Bagir, said, "As we
expected, today's EGM has confirmed that shareholders of Bagir are
strongly supportive of Shandong Ruyi, the global textile
manufacturer and retailer, investing $16.5 million into the Company
to become the majority shareholder and close commercial partner.
The future potential of Bagir has as a result been significantly
expanded and as a management team we are looking forward to
developing the business alongside our new global partner."
Capitalised terms used in this announcement will have the same
meanings as defined in the circular published on 3 September
2018.
For further information please contact:
Bagir Group Limited via Novella on:
Eran Itzhak, Chief Executive Officer +44 (0) 20 3151
Udi Cohen, Chief Financial Officer 7008
Tessa Laws, Non-Executive Chairman
N+1 Singer (Nominated Adviser & Broker)
Mark Taylor +44 (0)20 7496
James Moat 3000
Novella Communications (Financial PR)
Tim Robertson +44 (0)20 3151
Toby Andrews 7008
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCUGGAPUUPRGUB
(END) Dow Jones Newswires
October 09, 2018 06:45 ET (10:45 GMT)
Bagir (LSE:BAGR)
Historical Stock Chart
From Jun 2024 to Jul 2024
Bagir (LSE:BAGR)
Historical Stock Chart
From Jul 2023 to Jul 2024