TIDMBRSD
RNS Number : 1111Q
Brandshield Systems PLC
13 October 2023
13 October 2023
BrandShield Systems plc
("BrandShield," the "Company," or the "Group")
Result of General Meeting
BrandShield Systems (AIM: BRSD), a leading provider of
cybersecurity solutions for brand oriented digital risk protection,
announces that all resolutions proposed at the Company's General
Meeting held at 11.00 a.m. this morning were duly passed.
Resolution 1 was read on a poll of Independent Shareholders in
accordance with the requirements of the Takeover Code. The table
below sets out the results of the voting on the resolutions:
Resolution (*indicates special Votes for % of shares Votes % of shares
resolution) voted against voted
Resolution 1: to approve the
Rule 9 Waiver. 57,107,384 99.85% 87,439 0.15%
------------ ------------ --------- ------------
Resolution 2: that, pursuant
to section 551 of the CA 2006,
the directors be and are hereby
generally and unconditionally
authorised to allot equity
securities up to the maximum
aggregate nominal amount of
GBP775,000. 110,373,215 99.27% 808,949 0.73%
------------ ------------ --------- ------------
Resolution 3*: to dis-apply
the statutory rights of pre-emption
under Section 561(1) of the
CA 2006, up to a nominal amount
of GBP775,000 pursuant to the
authority conferred by Resolution
2 above. 110,323,983 99.23% 858,181 0.77%
------------ ------------ --------- ------------
Resolution 4*: to approve the
cancellation of the admission
to trading on AIM of the ordinary
shares of nominal value of
1p each in the capital of the
Company and that the directors
of the Company be generally
and unconditionally authorised
to take all actions reasonable
or necessary to effect such
cancellation. 101,990,650 99.17% 858,181 0.83%
------------ ------------ --------- ------------
Allotment of Shares and Warrants
Following the General Meeting the Company has today allotted
47,137,662 Subscription Shares and 914,018 Open Offer Shares, being
the number of Ordinary Shares applied for by Qualifying
Shareholders under the Open Offer (and as notified on 6 October
2023).
In addition, the Company has issued 47,137,662 Subscription
Warrants and 914,018 Open Offer Warrants.
Application has been made for the 47,137,662 Subscription Shares
and 914,018 Open Offer Shares to be admitted to trading on AIM.
Admission is expected to take place on or around Monday 16
October.
Granting of Options, and repricing of Existing Options
A total of 48,203,800 New Options have been granted which
includes the following to Directors and PDMRs:
Name Number of Options Exercise Price
Yoav Keren 16,363,250 See PDMR tables below
------------------ ----------------------
Yuval Zantkeren 16,363,250 See PDMR tables below
------------------ ----------------------
Itai Galmor 10,117,300 See PDMR tables below
------------------ ----------------------
In addition, the exercise price or exercise period for various
Existing Options and Existing Warrants, as more fully detailed in
paragraphs 5.3 and 5.4 of Part I of the Circular, have been
amended.
Total Voting Rights
Following Admission, the Company will have 218,383,554 Ordinary
Shares in issue. Since the Company currently holds no shares in
treasury, the total number of voting rights in the Company will
therefore be 218,383,554. These figures may therefore be used by
Shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change in their interest in, the share capital of the Company
under the FCA's Disclosure Guidance and Transparency Rules.
Cancellation of Admission to trading on AIM
The Company confirms that the cancellation of the admission to
trading on AIM of the Company's ordinary shares will take effect
from 7.00 a.m. on Monday 23 October.
Waiver of Rule 9 of the City Code
The Panel agreed to waive the Concert Party's obligation to make
an offer that would otherwise arise under Rule 9 of the Takeover
Code as a result of the issue of 32,939,572 new ordinary shares to
members of the Concert Party under the Subscription and the
exercise of the Subscription Warrants, New Options and Broker
Warrants held by members of the Concert Party. The Rule 9 Waiver
was subject to Independent Shareholders approving the Waiver
Resolution by way of a poll at the General Meeting. As more than 50
per cent. of the votes were cast in favour, the Waiver Resolution
was duly passed by the Independent Shareholders by way of poll at
the General Meeting.
The Concert Party comprises those acting, or deemed to be
acting, in concert with it, as more fully described in paragraph 7
of Part I ( Letter from the Chairman of BrandShield Systems plc) in
the Circular published on 20 September 2023.
Following Admission, members of the Concert Party will have an
interest in Ordinary Shares equating to an aggregate of 40.91 per
cent. of the issued share capital of the Company. Assuming that
members of the Concert Party exercise all Existing Options, New
Options, Subscription Warrants and Broker Warrants held by them,
then the Concert Party would, in aggregate, hold interests in
Ordinary Shares carrying a maximum of 58.41 per cent. of the issued
share capital of the Company, as set out in the table below.
Concert Ordinary % of Existing Maximum Maximum Maximum
Party Shares held Ordinary Options number of Number of % of
Member post Admission Share and Shares arising Ordinary Ordinary
Capital Existing from exercise Shares held Share
post Warrants of Existing by Concert Capital
Admission Options, Party Member held
Existing by Concert
Warrants, Party
New Options, Member
Subscription (1)
Warrants,
and Broker
Warrants
Yoav
Keren 11,888,670 5.44% 7,885,800 16,363,250 36,137,720 11.65%
---------------- ----------- ----------- ---------------- -------------- ------------
Yuval
Zantkeren 11,888,670 5.44% 7,885,800 16,363,250 36,137,720 11.65%
---------------- ----------- ----------- ---------------- -------------- ------------
Gigi
Levi
Weiss 7,117,397 3.26% - 1,703,771 8,821,168 2.84%
---------------- ----------- ----------- ---------------- -------------- ------------
New Enterprise
Ltd 11,558,235 5.29% 2,603,024 - 14,161,259 4.65%
---------------- ----------- ----------- ---------------- -------------- ------------
Leelavthi
Subbiah 3,275,329 1.50% - - 3,275,329 1.06%
---------------- ----------- ----------- ---------------- -------------- ------------
Harel
Kodesh 1,381,761 0.63% - - 1,381,761 0.45%
---------------- ----------- ----------- ---------------- -------------- ------------
Afterdox
and Afterdox
Partners 10,003,127 4.58% - - 10,003,127 3.22%
---------------- ----------- ----------- ---------------- -------------- ------------
Joseph
Haykov 32,234,152 14.76% - 31,235,801 63,469,953 20.46%
---------------- ----------- ----------- ---------------- -------------- ------------
Subramanian
Subbiah - 0.00% - 7,808,950 7,808,950 2.52%
---------------- ----------- ----------- ---------------- -------------- ------------
Total 89,347,341 40.91% 18,374,624 73,475,022 181,196,987 58.41%
---------------- ----------- ----------- ---------------- -------------- ------------
(1) assuming no options or warrants held by persons other than
members of the Concert Party are exercised.
The full text of the resolutions set out above is set out in the
Notice of General Meeting dated 20 September 2023.
As at 12 October 2023, the Company's issued share capital
consisted of 170,331,874 ordinary shares, carrying one vote per
share, with no shares held by the Company in treasury. In
accordance with the Articles of Association, on a poll every member
present in person or by proxy has one vote for every share
held.
In accordance with the terms of the Panel Waiver, only
Independent Shareholders were entitled to vote on the Waiver
Resolution. Therefore, any votes by members of the Concert Party in
respect of the Waiver Resolution were not taken into account. Votes
withheld are not votes in law and therefore have not been counted
in the calculation of the proportion of the votes for and against
any resolution. Link Group was appointed as the scrutineer for
vote-taking at the General Meeting.
Unless otherwise defined herein, capitalised terms used in this
announcement shall have the same meanings as defined in the
Circular dated 20 September 2023.
Enquiries:
BrandShield Systems plc +44 (0)20 3143
Yoav Keren, CEO 8300
Spark Advisory Partners Limited (Nominated
Adviser) +44 (0)20 3368
Neil Baldwin / Andrew Emmott / James Keeshan 3554
Shore Capital (Broker)
Toby Gibbs / James Thomas (Corporate Advisory) +44 (0)20 7408
Henry Willcocks (Corporate Broking) 4090
Vigo Consulting (Financial Public Relations)
Jeremy Garcia / Kendall Hill +44 (0)20 7390
brandshield@vigoconsulting.com 0237
The notification below, made in accordance with the Market Abuse
Regulation, provides further details in relation to these PDMR
dealings.
Details of t he p erson disc harging managerial responsib
1 ilities / p erson closely associated
a) Name Yoav Keren
-------------------------- ----------------------------------------
Reason for notification
2
--------------------------------------------------------------------
a) Position / status Director
-------------------------- ----------------------------------------
b) I nitial notification Initial
/Amendment
-------------------------- ----------------------------------------
Details of t he issu er, e mission allow a n ce m a r k
3 et participan t, au ct ion plat for m, au ction eer or auc
tion monitor
--------------------------------------------------------------------
a) Name BrandShield Systems Plc
-------------------------- ----------------------------------------
b) LEI 213800K5AXTQDWB6BP80
-------------------------- ----------------------------------------
Details of t he t ransact ion (s): section to be re p eated
4 for ( i) e a ch type of instr u m e n t; (ii) each type of
transac tion; (iii) each date; and ( iv) each place w h ere
transactions have b een condu cted
--------------------------------------------------------------------
a) Description of the Ordinary shares of 1p (GBP0.01) each in
financial instrument, the capital of BrandShield Systems Plc
t ype of instrument ISIN GB00BM97CN29
I d e ntification
code
-------------------------- ----------------------------------------
Nature of the transaction Grant of new options
-------------------------- ----------------------------------------
Price(s) and volumes(s) Price(s) Volume(s)
7,914,690
5.68p 6,933,280
8.52p 326,850
10.5p 40,120
14p 259,750
15p 798,650
20p 89,910
25p 16,363,250
------------
-------------------------- ----------------------------------------
d) Aggregated information
- Aggregated volume 16,363,250
- Aggregated price See table above
-------------------------- ----------------------------------------
e) Date of the transaction 13 October 2023
-------------------------- ----------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- ----------------------------------------
Details of t he p erson disc harging managerial responsib
1 ilities / p erson closely associated
a) Name Yuval Zantkeren
-------------------------- ---------------------------------------
Reason for notification
2
-------------------------------------------------------------------
a) Position / status Director
-------------------------- ---------------------------------------
b) I nitial notification Initial
/Amendment
-------------------------- ---------------------------------------
Details of t he issu er, e mission allow a n ce m a r k
3 et participan t, au ct ion plat for m, au ction eer or auc
tion monitor
-------------------------------------------------------------------
a) Name BrandShield Systems Plc
-------------------------- ---------------------------------------
b) LEI 213800K5AXTQDWB6BP80
-------------------------- ---------------------------------------
Details of t he t ransact ion (s): section to be re p eated
4 for ( i) e a ch type of instr u m e n t; (ii) each type of
transac tion;
( iii) each date; and ( iv) each place w h ere transactions
have b een condu cted
-------------------------------------------------------------------
a) Description of the Ordinary shares of 1p (GBP0.01) each
financial instrument, in the capital of BrandShield Systems
t ype of instrument Plc
I d e ntification ISIN GB00BM97CN29
code
-------------------------- ---------------------------------------
Nature of the transaction Grant of new options
-------------------------- ---------------------------------------
Price(s) and volumes(s) Price(s) Volume(s)
7,914,690
5.68p 6,933,280
8.52p 326,850
10.5p 40,120
14p 259,750
15p 798,650
20p 89,910
25p 16,363,250
-------------------------- ---------------------------------------
d) Aggregated information
- Aggregated volume 16,363,250
- Aggregated price See table above
-------------------------- ---------------------------------------
e) Date of the transaction 13 October 2023
-------------------------- ---------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- ---------------------------------------
Details of t he p erson disc harging managerial responsib
1 ilities / p erson closely associated
a) Name Itai Galmor
-------------------------- ----------------------------------------
Reason for notification
2
--------------------------------------------------------------------
a) Position / status PDMR
-------------------------- ----------------------------------------
b) I nitial notification Initial
/Amendment
-------------------------- ----------------------------------------
Details of t he issu er, e mission allow a n ce m a r k
3 et participan t, au ct ion plat for m, au ction eer or auc
tion monitor
--------------------------------------------------------------------
a) Name BrandShield Systems Plc
-------------------------- ----------------------------------------
b) LEI 213800K5AXTQDWB6BP80
-------------------------- ----------------------------------------
Details of t he t ransact ion (s)
4 section to be re p eated for ( i) e a ch type of instr u
m e n t; (ii) each type of transac tion; (iii) each date;
and ( iv) each place w h ere transactions have b een condu
cted
--------------------------------------------------------------------
a) Description of the Ordinary shares of 1p (GBP0.01) each in
financial instrument, the capital of BrandShield Systems Plc
t ype of instrument ISIN GB00BM97CN29
I d e ntification
code
-------------------------- ----------------------------------------
Nature of the transaction Grant of new options
-------------------------- ----------------------------------------
Price(s) and volumes(s) Price(s) Volume(s)
5.68p
8.52p 7,318,7002,798,000
-------------------------- ----------------------------------------
d) Aggregated information
- Aggregated volume 10,117,300
- Aggregated price See above
-------------------------- ----------------------------------------
e) Date of the transaction 13 October 2023
-------------------------- ----------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- ----------------------------------------
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END
ROMFXLFFXBLZFBQ
(END) Dow Jones Newswires
October 13, 2023 07:51 ET (11:51 GMT)
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