Byotrol PLC Posting of circular & notice of AGM (6763C)
October 20 2020 - 8:42AM
UK Regulatory
TIDMBYOT
RNS Number : 6763C
Byotrol PLC
20 October 2020
20 October 2020
Byotrol plc
Posting of circular and notice of Annual General Meeting
Byotrol plc (AIM: BYOT), the anti-microbial technology company,
announces that it has today posted to shareholders its notice of
Annual General Meeting ("AGM") and a circular (the "Circular") in
connection with the Company's AGM and a proposed capital reduction.
The capital reduction process comprises (i) the cancellation of the
Company's share premium account; and (ii) the capitalisation of the
amount standing to the credit of the Company's merger reserve by
issuing B ordinary shares in the capital of the Company and the
subsequent cancellation of such B ordinary shares (the "Capital
Reduction").
The purpose of the Capital Reduction is to create distributable
reserves. While the Company is not making a specific proposal, nor
has any decision been taken as to the use of any such distributable
reserves, this will have the effect of increasing the Company's
flexibility to pay dividends, subject to the financial performance
of the Company. Shareholders should note that the issue of Capital
Reduction Shares is the legal method required to capitalise the
Company's merger reserve and the Capital Reduction Shares will be
cancelled the day after issue. Accordingly, Shareholders' holdings
of Ordinary Shares in the Company will be unaffected and no other
shares will be held by Shareholders following completion of the
Capital Reduction.
The proposals regarding the Capital Reduction are conditional
upon both the passing of the resolutions at the AGM and Court
approval being obtained.
The AGM is to be held at the offices of finnCap Ltd, 1
Bartholomew Close, London EC1A 7BL at 11.00 am on 13 November 2020.
Shareholders should note that, due to the COVID-19 pandemic, the
AGM is being held as a closed meeting. Shareholders (other than the
minimum number of two required to form a quorum, as arranged by the
Company) will not be able to attend and vote at the AGM in person.
Shareholders are therefore encouraged to vote in advance and to
appoint the Chairman of the AGM as their proxy. All resolutions
will be taken on a poll. Further information is set out in the
Circular.
The Board recognises that the AGM normally represents an
opportunity to engage with shareholders and provides a forum that
enables shareholders to ask questions of the Board. In light of
this, the Board is investigating methods of achieving this online.
This may include the ability for shareholders to submit questions
by email in advance of the meeting, which would be answered (if
appropriate) immediately following the conclusion of the AGM on the
Company's website. An announcement through a Regulatory Information
Service will be published prior to the AGM with further
details.
The Circular and the notice of AGM will shortly be made
available on the Company's website at www.byotrolplc.com.
Enquiries:
Byotrol plc
David Traynor - Chief Executive Officer
Nic Hellyer - Chief Financial Officer 01925 742 000
finnCap
Geoff Nash/Kate Bannatyne - Corporate Finance 020 7220 0500
Richard Chambers - ECM
Flagstaff Strategic and Investor Communications
Tim Thompson/Andrea Seymour/Fergus Mellon 020 7129 1474
byotrol@flagstaffcomms.com
Notes to Editors:
Byotrol plc (BYOT.L), quoted on AIM, is a specialist infection
prevention and control company, operating globally in the
Healthcare, Industrial, Food and Consumer sectors, providing low
toxicity products with a broad-based and targeted efficacy across
all microbial classes; bacteria, viruses (including coronavirus),
fungi, moulds, mycobacteria and algae.
Byotrol's products can be used stand-alone or as ingredients
within existing products, where they can significantly improve
their performance, especially in personal hygiene, domestic and
industrial disinfection, odour control, food production and food
management.
Byotrol develops and commercialises technologies that create
easier, safer and cleaner lives for everyone.
For more information, please go to byotrol.co.uk
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