9 January 2023

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE UK VERSION OF REGULATION (EU) NO 596/2014 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL OF 16 APRIL 2014 ON MARKET ABUSE (MARKET ABUSE REGULATION) AS RETAINED AS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 AS AMENDED.

UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

Arricano Real Estate Group plc

 

("Arricano Real Estate", the "Group" or the "Company")

Result of General Meeting and Matched Bargain Facility

 

Arricano Real Estate Group plc (AIM: ARO) announces that, at the general meeting of the Company held earlier today, the special resolutions in respect of the proposed cancellation of the admission of the Company's ordinary shares to trading on AIM (the "Cancellation") and the adoption of new articles of association were duly passed by shareholders.

 

As set out in the circular to shareholders of 14 December 2022 (the "Circular"), the Cancellation is expected to become effective on 17 January 2023.  Shareholders are reminded that the last day of dealings in Arricano Real Estate ordinary shares on AIM will be 16 January 2023.

 

Details of the number of proxy votes cast for, against and withheld in respect of the resolutions are set out below:

 

Special Resolution		Votes For (Including Discretionary)		Votes Against		Votes Total (excluding Withheld)		Votes Withheld
		No. of shares	% of shares voted	No. of shares	% of shares voted	No. of shares	% of issued share capital	No. of shares
1.	To approve the Cancellation	92,968,214	100%	0	0	92,968,214	90.0239	0
2.	Subject to Resolution 1 becoming effective  to approve and adopt the new articles of association	92,968,214	100%	0	0	92,968,214	90.0239	0

 

 

Matched Bargain Facility

 

To facilitate future shareholder transactions in the Company's ordinary shares, the Company has appointed Asset Match to provide a matched bargain facility, which will be available from Cancellation.

 

The Company has appointed Asset Match (http://www.assetmatch.com) to facilitate trading in the ordinary shares. Asset Match, a firm authorised and regulated by the Financial Conduct Authority, will operate an electronic off-market dealing facility for the ordinary shares. This facility will allow shareholders and new investors to trade ordinary shares by matching buyers and sellers through periodic auctions. Investors can register their interest for further information on the Asset Match auction process by emailing dealing@assetmatch.com.

 

The Asset Match trading facility operates under its own code of practice, which governs the behaviour of participants and the running of the periodic auctions. Asset Match operates an open auction system where volumes of bids and offers at different prices are displayed on its website together with the closing date of the auction. At the end of each auction period, Asset Match passes this information through a non-discretionary algorithm that determines a "market-derived" share price based on supply and demand and allocates transactions accordingly. Bids and offers may be made and withdrawn at any time before the closing date of each auction.

 

Shareholders will continue to be able to hold their shares in uncertificated form (i.e. in CREST) and should check with their existing stockbroker whether they are willing or able to trade in unquoted shares. Shareholders wishing to trade shares through Asset Match must do so through a stockbroker. A comprehensive list of stockbrokers who have signed up to access the Asset Match platform is available on request by emailing dealing@assetmatch.com.

 

Upon Cancellation, full details of the matched bargain facility will be made available to Shareholders on the Company's website https://arricano.com/en.

 

Shareholders should also be aware that the matched bargain facility could be withdrawn at a later date. The provision of a matched bargain facility will be kept under review by the Board and, in determining whether to continue to offer a matched bargain facility, the Company shall consider expected (and communicated) shareholder demand for such a facility as well as the composition of the Company's register of members and the costs to the Company and shareholders.

 

A copy of the Circular is available on the Company's website  https://arricano.com/en.

 

Enquiries:

Arricano Real Estate plc                                                             Tel: +357 25 582 535

Lauri Reinberg

 

 Nominated Adviser and Broker:                                                Tel: +44 (0)20 7220 1666

WH Ireland Limited

Chris Fielding

 

 Financial PR:                                                                            Tel: +44 (0)20 3151 7008

Novella Communications Limited

Tim Robertson