Tau Capital PLC Result of EGM (9941C)

TIDMTAU

RNS Number : 9941C

Tau Capital PLC

04 October 2018

4 October 2018

Tau Capital plc

("Tau" or the "Company")

Result of Extraordinary General Meeting

Further to the Company's announcement made on 17 September 2018, Tau announces that at the Company's Extraordinary General Meeting, held earlier today, the single resolution proposed (the "Resolution") was duly passed.

Accordingly, following its approval by shareholders, the Company has adopted the amended Investing Policy, as described in the Company's circular to shareholders dated 17 September 2018 (the "Circular").

The main additional conditions precedent to the disposal of the Company's indirect interest in Stopharm LLP (the "Disposal") have been satisfied, save for the receipt by Tau of the consideration for the Disposal. Accordingly, the Board anticipates that the Disposal should complete on or before the long stop date of 31 October 2018.

Further announcements in respect of the completion of the Disposal will be made in due course.

On completion of the Disposal, the Company will no longer be classified as an investing company and will be classified as an AIM Rule 15 cash shell and as such will be required to make an acquisition or acquisitions which constitutes a reverse takeover under AIM Rule 14 on or before the date falling six months from completion of the Disposal or be re-admitted to trading on AIM as an investing company under the AIM Rules (which requires the raising of at least GBP6 million) failing which, the Company's Ordinary Shares would then be suspended from trading on AIM pursuant to AIM Rule 40. Admission to trading on AIM would be cancelled six months from the date of suspension should the reason for the suspension not have been rectified.

Further details in respect of the Disposal, the amendments to the Company's Investing Policy and other matters described above, can be found in the Circular.

The results of voting on the Resolution were as follows:

 
 Resolution    Votes for*   %       Votes against   %      Votes total   Votes withheld** 
 Resolution 
  1            10,319,264   99.66   34,965          0.34   10,354,229    Nil

*Includes discretionary votes.

**A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes "For" or "Against" any of the resolutions.

The Company has 48,984,680 Ordinary Shares in issue, each with one voting right. There are no treasury shares in the Company.

Further information, please contact:

 
 FIM Capital Limited 
  Philip Scales                         Tel: +44 (0) 1624 681250 
 
 Allenby Capital Limited (Nominated   Tel: +44 (0) 203 328 5656 
  Adviser and Joint Broker) 
  John Depasquale / Alex Brearley 
 
                                       Tel: +44 (0) 207 469 0933 
  Peterhouse Capital Limited (Joint 
  Broker) 
  Lucy Williams / Heena Karani

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

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October 04, 2018 05:49 ET (09:49 GMT)

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