CML Microsystems PLC Result of General Meeting (7548S)
March 18 2021 - 8:03AM
UK Regulatory
TIDMCML
RNS Number : 7548S
CML Microsystems PLC
18 March 2021
CML Microsystems Plc
Result of General Meeting
CML Microsystems Plc (the "Group" or the "Company"), which
develops mixed-signal, RF and microwave semiconductors for global
communications markets, announces that at its general meeting
("GM") held at 10.00 a.m. today the resolution put to shareholders,
as set out in the Notice of GM dated 22 February 2021, was passed
with the requisite majority on a poll. Accordingly, the Company
announces that 16,551,685 redeemable preference shares of 50 pence
each in the capital of the Company ("B Shares") will be issued
tomorrow, Friday 19 March 2021. A further announcement will be made
tomorrow regarding the issue of the B Shares.
The poll results were as follows:
Resolution For % Against % Withheld %
1. (a) To adopt new Articles
of Association of the
Company in order to implement
the B Share Scheme; and
(b) to authorise the Board
to: (i) capitalise a sum
not exceeding GBP8.6 million
and to apply such sum
in paying up in full the
B Shares; and (ii) allot
and issue the B Shares,
up to an aggregate nominal
amount of GBP8.6 million,
on the basis of one B
Share for Ordinary Share
held at the Record Time 13,662,918 99.99 1,000 0.01 506 0.00
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CML Microsystems Plc www.cmlmicroplc.com
Chris Gurry, Group Managing Tel: +44(0)1621 875 500
Director
Nigel Clark, Group Non-Executive
Chairman and Group Finance
Director
Shore Capital Tel: +44(0)20 7408 4090
Edward Mansfield
James Thomas
Fiona Conroy - Corporate Broking
SP Angel Corporate Finance Tel: +44(0)203 463 2260
LLP
Jeff Keating
Alma PR
Josh Royston Tel: +44 (0)20 3405 0205
Caroline Forde
Robyn Fisher
About CML Microsystems PLC
CML develops mixed-signal, RF and microwave semiconductors for
global communications markets. The Group utilises a combination of
outsourced manufacturing and in-house testing with trading
operations in the UK, Asia and USA. CML targets sub-segments within
Communication markets with strong growth profiles and high barriers
to entry. It has secured a diverse, blue chip customer base,
including some of the world's leading commercial and industrial
product manufacturers.
The spread of its customers and diversity of the product range
largely protects the business from the cyclicality usually
associated with the semiconductor industry. Growth in its end
markets is being driven by factors such as the appetite for data to
be transmitted faster and more securely, the upgrading of telecoms
infrastructure around the world and the growing prevalence of
private commercial wireless networks for voice and/or data
communications linked to the industrial internet of things
(IIoT).
The Group is cash-generative, has no debt and is dividend
paying.
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END
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