Unigel Group
plc
(the
"Group" or the "Company")
Notice of General Meeting,
Proposed Issue of Equity and Related Party
Transaction
Unigel Group plc (AQSE: UNX), the manufacturer
and supplier of materials used in the manufacture of
telecommunication fibre optic cables announces that it has
conditionally issued 3,173,106 new ordinary shares at a price of 64
pence per new ordinary share to Unigel Limited ("Share Issuance"),
a Hong Kong incorporated company, in lieu of a £2,030,787.84 loan
owed to Unigel Limited. The Share Issuance is conditional upon
shareholder approval at the Company's forthcoming general
meeting.
Related Party
Transaction
Unigel Limited is considered a "Related Party"
as a result of Eric Chhoa, a director of the Company, being the
sole shareholder of Unigel Limited. Accordingly, the Share Issuance
constitutes a related party transaction for the purposes of Rule
4.6 of the AQSE Growth Market Access Rulebook.
The directors of the Company independent of the
Share Issuance confirm that, having exercised reasonable care,
skill and diligence, the related party transaction is fair and
reasonable insofar as the shareholders of Unigel Group plc are
concerned.
If the Share Issuance is approved, Eric Chhoa
will hold 9,667,560 ordinary shares in the Company representing
66.9 per cent. of the Company's enlarged issued share
capital.
Notice of
General Meeting
The Company announces that it has convened a
General Meeting ("GM") of the Company which will be held on 23
February 2024 at 11:00 a.m. at the offices of Shakespeare Martineau
LLP at 6th Floor, 60 Gracechurch Street, London, EC3V 0HR, United
Kingdom.
A notice of GM, together with the form of
proxy, has been sent to the shareholders of the Company
("Shareholders") today. The notice of GM will also be shortly
available for inspection on the Company website,
http://www.unigel.com.
Full details of the operation and arrangements
for the GM are set out in the notice of GM.
This announcement contains inside information
for the purposes of the UK Market Abuse Regulation and the
Directors of the Company are responsible for the release of this
announcement.
Enquiries:
|
Unigel Group
plc
|
|
|
Eric Chhoa
|
+81 80 6929
3688
|
|
Gary Revel-Chion
|
+44 (0) 1273 612
122
|
|
Cairn
Financial Advisers LLP (AQSE Corporate Adviser)
|
|
|
Jo Turner
|
+44 (0) 20 7213
0880
|
|
Ludovico Lazzaretti
|
|
Notes to
Editors
Unigel Group plc is the holding company whose
operating subsidiaries, Unigel (UK) Limited ("Unigel") and Unitape
Limited ("Unitape") manufacture and distribute materials used in
the manufacture of telecommunication fibre optic cables.
Unigel formulates, manufactures, and markets
thixotropic gels primarily to the fibre optic cable industry. In
addition, it also makes specialty gel products for the
construction, green energy, and high voltage transmission apparatus
markets.
Unitape is one of the largest domestic
manufacturers and suppliers of laminated steel tapes to the fibre
optic cable industry in North America.
