Remote Monitored Systems PLC Result of General Meeting (9186I)

TIDMRMS

RNS Number : 9186I

Remote Monitored Systems PLC

17 August 2021

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside is now considered to be in the public domain.

Remote Monitored Systems plc

("RMS" or the "Company")

Result of General Meeting

The Company announces that the votes cast for the resolution at today's general meeting ("GM") were as follows:

 
              Resolution                  For      %       Against    %      % of       Withheld 
                                                                              issued 
                                                                              share 
                                                                              capital 
    That the Directors be 
     authorised to complete 
     the transfer by the Company 
     and Braveheart Investment 
     Group plc of 615,054 
     A ordinary shares in 
     Gyrometric Systems Ltd 
     ("Gyrometric"), in aggregate, 
     to the founders of Gyrometric 
     (the "Transfer"), and 
     the associated variation 
     of the existing Gyrometric 
1.   Shareholder's agreement        474,219,268  93.56%  32,632,326  6.44%      24.4%  5,789,322 
    ==============================  ===========  ======  ==========  =====  =========  =========

Accordingly, the existing shareholders' agreement will be terminated and all loans will be written off (including those from RMS and Braveheart). RMS and Braveheart will each transfer the majority of their shares in Gyrometric to its founders; David Orton, Dr Paul Orton and Dr Janet Poliakoff (the "Founders") for a nominal sum; each retaining a small shareholding (15% for RMS and 6.43% for Braveheart, down from 58% and 19.5% respectively). Following the Transfer, the Founders will together hold 75.1% and Anthony Ferguson, a non-executive director of Gyrometric, will retain 3.47%.

- ENDS -

ENQUIRIES :

Remote Monitored Systems plc

Antony Legge (Executive Chairman) +44 77 6355 5919

SP Angel Corporate Finance LLP +44 20 3470 0470

Nominated Adviser and Joint Broker

Stuart Gledhill

Caroline Rowe

Peterhouse Capital Limited +44 20 7469 0930

Joint Broker

Lucy Williams

IFC Advisory Ltd +44 20 3934 6630

Graham Herring

Zach Cohen

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END

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August 17, 2021 07:31 ET (11:31 GMT)

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