Beacon Rise Holdings PLC Notice of Extraordinary General Meeting (8090W)
April 19 2023 - 11:51AM
UK Regulatory
TIDMBRS
RNS Number : 8090W
Beacon Rise Holdings PLC
19 April 2023
Beacon Rise Holdings plc
Wednesday, 19 April 2023
Becon Rise Holdings plc
Notice of Extraordinary General Meeting ("EGM")
Beacon Rise Holdings plc (the "Company") announces that an
Extraordinary General Meeting will be held at 3 p.m. on Monday, 15
May 2023, at Boot Room, 154-160 Fleet Street, Blackfriars, London,
EC4A 2DQ.
The purpose of the EGM is to consider pursuant to section 656(1)
of the Companies Act 2006 (the Act), whether any, and if so, what
steps should be taken to address the fact that the net assets of
the Company have fallen to half of its called-up share capital.
It has recently come to the attention of the Board of Directors
of the Company (the Board) that the value of the Company's net
assets is less than half of its called-up share capital (deemed to
be a serious loss of capital). Pursuant to section 656 of the Act,
the directors of a public company are required to call a general
meeting, where the net assets of the company are half or less than
half of its called-up share capital, in order to allow the
shareholders of the Company to consider whether any, and if so,
what steps should be taken to deal with the situation.
The Board is of the view that the status of a "serious loss of
capital" under section 656 of the Act does not pose any immediate
risk to the current solvency of the Company. The Board will
continue to prudently manage the Company's remaining cash reserves
and minimise its operating expenses.
In light of the above, the Board does not consider it necessary
for specific resolutions to be proposed at the General Meeting. The
Board does, however, welcome dialogue with shareholders on this
point and the General Meeting will provide a forum for such
discussions to take place.
A Notice of EGM and a Form of Proxy is now available to view on
the company's website:
https://www.beaconrise.uk/index.php/investors/77-general-meeting
END
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April 19, 2023 11:51 ET (15:51 GMT)
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