Post-Annual General Meeting Information • May 1, 2025
Preview not available for this file type.
Download Source Fileauthor: "edinburgh"
date: 2025-04-30 15:59:00+00:00
processor: python-docx+mammoth
status: success
Develop North PLC
(Incorporated in England and Wales with registered number 10395804 and registered as an investment company under section 833 of the Companies Act 2006)
Resolutions passed as Special Business at the Annual General Meeting held on 1 May 2025
Passed as an Ordinary Resolution:
THAT, in accordance with section 551 of the Companies Act 2006 (the “CA 2006”), the board of directors of the Company (or a duly constituted committee of the directors of the Company) (the “Directors”) be generally and unconditionally authorised to allot shares in the Company or grant rights to subscribe for or to convert any security into shares in the Company up to an aggregate nominal amount of £49,956 provided that this authority shall, unless renewed, varied or revoked by the Company, expire on 1 August 2025 or, if earlier, the date of the next annual general meeting of the Company save that the Company may, before such expiry, make offers or agreements which would or might require shares in the Company to be allotted or rights to subscribe for or to convert any security into shares in the Company to be granted and the Directors may allot shares in the Company or grant rights to subscribe for or to convert any security into shares in the Company in pursuance of such offer or agreement notwithstanding that the authority conferred by this resolution has expired. This resolution revokes and replaces all unexercised authorities previously granted to the Directors to allot shares in the Company or grant rights to subscribe for or to convert any security into shares in the Company but without prejudice to any allotment of shares or grant of rights already made, offered or agreed to be made pursuant to such authorities
Passed as Special Resolutions:
THAT, subject to the passing of resolution 11 and in accordance with section 570 of the CA 2006, the Directors be authorised to allot equity securities (as defined in section 560 of the CA 2006) for cash under the authority conferred by resolution 11 and/or to sell ordinary shares of one pence each in the capital of the Company held by the Company as treasury shares as if section 561 of the CA 2006 did not apply to any such allotment or sale, provided that such authority shall 65 be limited to the allotment of equity securities or sale of treasury shares up to an aggregate nominal amount of £49,956. The authority granted by this resolution will, unless renewed, varied or revoked by the Company, expire at the conclusion of the Company’s next annual general meeting after this resolution is passed or, if earlier, at the close of business on 1 August 2025, save that the Company may, before such expiry make offers or agreements which would or might require equity securities to be allotted (or treasury shares to be sold) after the authority expires and the Directors may allot equity securities (or sell treasury shares) in pursuance of any such offer or agreement as if the authority had not expired. This resolution revokes and replaces all unexercised powers previously granted to the Directors to allot equity securities or sell treasury shares as if section 561 of the CA 2006 did not apply but without prejudice to any allotment of equity securities or sale of treasury shares already made or agreed to be made pursuant to such authorities.
a. the maximum number of Ordinary Shares authorised to be purchased is 3,744,232;
b. the minimum price which may be paid for an Ordinary Share is £0.01; and
c. the maximum price which may be paid for an Ordinary Share must not be more than the higher of:
(i) 5 per cent. above the average of the mid-market value of the Ordinary Shares for the five business days before the purchase is made; or
(ii) the higher of the last independent trade and the highest current independent bid for Ordinary Shares.
The authority conferred by this resolution will expire on the earlier of the conclusion of the next Annual General Meeting of the Company and 15 months from the passing of this resolution save that the Company may, before the expiry of the authority granted by this resolution, enter into a contract to purchase Ordinary Shares which will or may be executed wholly or partly after the expiry of such authority.
14. That a general meeting of the Company, other than an Annual General Meeting, may be called on not less than 14 clear days’ notice.
On behalf of Apex Fund Administration Services (UK) Limited
Company Secretary
Registered office: Hamilton Centre, Rodney Way, Chelmsford CM1 3BY
1 May 2025
Have a question? We'll get back to you promptly.