CROMA SECURITY SOLUTIONS GROUP PLC — AGM Information 2023

Jun 30, 2023

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RNS Number : 5426E

Croma Security Solutions Group PLC

30 June 2023

Croma Security Solutions Group Plc

("CSSG", "Croma", "the "Company" or the "Group")

Result of General Meeting

Croma Security Solutions Group plc (AIM:CSSG) is pleased to announce  that the Resolutions put to Shareholders at the General Meeting held earlier today in connection with the sale of the entire issued share capital of its subsidiary Vigilant Security (Scotland) Limited ("Vigilant"), were duly passed. Accordingly, the Disposal of Vigilant is expected to complete conditional on the Buy-Back being completed in accordance with its terms, which is expected to take place later this afternoon. The results of the voting will be included on the Company's website in due course, www.cssgroupplc.com.

The Buyer (at its sole discretion) has confirmed that it will be issuing the Redeemable Share as part of the Consideration. As a result, the Consideration will be satisfied as to (i) £1,073,314 payable in cash on Completion; (ii) £4,126,686 by the issue of the Loan Notes; and (iii) £1,300,000 by the issue of the Redeemable Share on Completion. In addition, inter-company balances of £1,067,913 owed by Vigilant to the Company will be settled on Completion. Therefore on Completion the Company will receive in aggregate £2,141,227 of cash.

This announcement should be read in conjunction with the full text of the Circular posted to Shareholders on 6 June 2023 copies of which are available on the Company's website at www.cssgroupplc.com. Capitalised terms in this announcement have the same meaning as given in the Circular.

For further information visit www.cssgroupplc.com or contact:

Croma Security Solutions Group plc                                                       Tel: +44 (0)1489 566 166

Roberto Fiorentino, CEO

Teo Andreeva, CFO

WH Ireland Limited                                                                              Tel: +44 (0)207 220 1666

(Nominated Adviser and Broker)

Mike Coe

Sarah Mather

Novella                                                                                                 Tel: +44 (0)203 151 7008

Tim Robertson

Claire de Groot

Safia Colebrook

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

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