お知らせ • Apr 04
i(x) Net Zero Plc ORD NPV to Be Deleted from OTC Equity i(x) Net Zero Plc ORD NPV (Jersey) will be deleted from OTC Equity effective April 04, 2025, due to Inactive Security. お知らせ • Jul 04
i(x) Net Zero Plc, Annual General Meeting, Jul 19, 2024 i(x) Net Zero Plc, Annual General Meeting, Jul 19, 2024. Location: the offices of buchanan communications, 107 cheapside, ec2v 6dn, london United Kingdom お知らせ • Jun 29
i(x) Net Zero Proposes Cancellation of Ordinary Shares Admission to Trade on AIM i(x) Net Zero Plc announced the proposed cancellation of admission of its ordinary shares to trading on AIM (‘Cancellation’). The Directors have undertaken a review to evaluate the benefits and drawbacks to the Company and its Shareholders of retaining the admission to trading of the Ordinary Shares on AIM. The Directors have taken into consideration numerous factors, both positive and negative, and considered the interests of all Shareholders in reaching its decision. Following this review, the Board has concluded that the continued admission to trading of the Ordinary Shares on AIM is not appropriate and, accordingly, the Cancellation is in the best interests of the Company and its Shareholders as a whole including for the following reasons: The Company's share price fell by approximately 70% to 22 pence in the 6 months after IPO and has since remained at or around this level, despite the NAV of the Company's underlying investments having materially increased during this period. There has been limited liquidity in the Ordinary Shares for some time and, as a result, the Directors believe that continued admission to trading on AIM no longer sufficiently provides the Company with the advantage of providing access to capital in the medium to longer-term, nor in the opinion of the Directors, provides liquidity to investors. The Directors believe that the low share price is seen as a barrier to the Company issuing further shares and so the Company's ability to provide additional funds to it portfolio companies or to make new investments. Notwithstanding the public reporting of NAV, whilst the low share price has become disconnected with the underlying NAV of the Company's investments and the Directors believe that this low share price hampers valuation discussions when looking to realise investments the Company has made. The considerable cost, management time and legal and regulatory burden associated with maintaining the Company's admission to trading on AIM are, in the Directors' opinion, disproportionate to the benefits to the Company's continued admission to trading on AIM. More generally, the Directors believe that the UK small and micro-cap public markets have had a significant change in sentiment over the past few years and that the Company's current public market valuation does not reject the underlying potential of the business with the result that growth prospects are more readily accessible and managed in a private market environment. Pursuant to AIM Rule 41, the Cancellation can only be effected by the Company after securing a resolution of Shareholders in a general meeting passed by a requisite majority, being not less than 75% of the votes cast by Shareholders (in person or by proxy). The Directors intend to propose the resolution to approve the Cancellation at or around the time of the forthcoming AGM and a further announcement of the timing of the proposed Cancellation will be made in due course. Further details of the effect of the proposed Cancellation is set out at the end of this Announcement. The Directors are aware that Shareholders may wish to acquire or dispose of Ordinary Shares in the Company following the Cancellation but there will be no formal market for this which would make it more difficult for Shareholders to buy and sell Ordinary Shares should they wish to do so. The Company intends to make arrangements for a Matched Bargain Facility to assist Shareholders to trade in the Ordinary Shares to be put in place from the date of the Cancellation, if the resolutions necessary to approve the proposed Cancellation are passed. The intended Matched Bargain Facility would be provided by J P Jenkins. J P Jenkins is an appointed representative of Prosper Capital LLP, which is authorised and regulated by the FCA.