Kinepolis Group NV — AGM Information 2017

Oct 24, 2017

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RNS Number : 4817U

Kin Group PLC

24 October 2017

RNS ANNOUNCEMENT: The information communicated in this announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.

For immediate release

24 October 2017

Kin Group Plc ("the Company")

Results of Creditors' Meeting, Shareholders' CVA Meeting and General Meeting

At the Creditors' Meeting held by correspondence at 23.59 on 23 October 2017, the Directors' Proposals for the Creditors' Voluntary Arrangement ("CVA") were approved by 98.68% of creditors by value with 1.32% of creditors abstaining.

At the Shareholders' CVA Meeting held this morning the CVA Proposal sent to shareholders on 5 October 2017 was approved on a poll, the results of the poll were as follows: 586,202,970 in favour (99.78%), with 1,023,860 against (0.17%) with 305,500 abstaining (0.05).

At the General Meeting, held immediately after the Shareholders' CVA Meeting this morning, all the resolutions set out in the Notice of Meeting dated 5 October 2017 were passed on a poll, the results of which are set out below: 

Resolution	Votes for	%	Votes against	%	Votes total	Votes withheld (Note)
1. Allotment of shares pursuant to the CVA Resolution	520,515,382	99.81	1,000,000	0.19	521,515,382	4,493
2. Allotment of shares for cash	520,486,644	99.80	1,028,738	0.20	521,515,382	4,493
3. Subdivision of the ordinary shares and creation of the  C Deferred Shares	520,429,279	99.80	1,051,103	0.20	521,480,382	39,493
4. Amendment to the Articles of Association	519,915,382	99.81	1,000,000	0.19	520,915,382	604,493
5. Appointment of John Taylor as a Director	519,885,707	99.80	1,029,675	0.20	520,915,382	604,493
6. Appointment of Lindsay Mair as a Director.	520,485,707	99.80	1,029,675	0.20	521,515,382	4,493

Note: A 'vote withheld' is not a vote under English law and is not counted in the calculation of votes 'for' or 'against' a resolution.

AIM Rule 15

As previously announced, the Company became a "Rule 15 Cash Shell" under Rule 15 of the AIM Rules with effect from 30 August 2017.

Within six months of becoming a Rule 15 Cash Shell, the Company must make an acquisition or acquisitions which constitute(s) a reverse takeover under AIM Rule 14.  If it does not do so, the London Stock Exchange will suspend trading in the Company's AIM securities pursuant to AIM Rule 40.  The London Stock Exchange will cancel the admission of the Company's AIM securities pursuant to AIM Rule 41 where they have been suspended from trading for six months.

Update on Suspension in Trading

Trading in the Company's Ordinary Shares on AIM is currently suspended, pending clarification of its financial position.  Following completion of the CVA and of the Placing and the admission to trading of the CVA Capitalisation Shares and the Placing Shares ("Admission"), which is expected to take place at 8:00 am on 26 October 2017, the Directors believe that the Company will have clarified its financial position and will apply to AIM for the suspension to be lifted and trading in the Ordinary Shares of the Company to be resumed with effect from Admission. 

The Company has applied to the London Stock Exchange for the 100,000,000,000 Placing Shares and the CVA Capitalisation Shares to be admitted to trading on AIM.  The total number of CVA Capitalisation Shares will be announced following the closing of claims under the CVA, which will take place at 1.00 pm on 25 October 2017.

Completion of the Company's proposals including the Placing, CVA and the Board changes are conditional on the lifting of the suspension in trading of the Company's ordinary shares on AIM and Admission.

Further announcements will be made as appropriate.

Note: Definitions in this announcement will, unless otherwise stated, have the same meaning as in the circular to shareholders dated 5 October 2017.

~ Ends ~

For further information please contact:

Donald Stewart (Chairman)	Kin Group Plc		020 7449 1000
Mark Brady/Neil Baldwin	SPARK Advisory Partners Limited (nominated adviser)		020 3368 3551
Eran Zucker/Fungai Ndoro	Peterhouse Corporate Finance Limited		020 7469 0930

This information is provided by RNS

The company news service from the London Stock Exchange

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