OneView Group PLC Proposed Share Consolidation (6954P)
September 04 2017 - 2:00AM
UK Regulatory
TIDMONEV
RNS Number : 6954P
OneView Group PLC
04 September 2017
4 September 2017
OneView Group plc
("OneView" or the "Company")
Proposed Share Consolidation
OneView (AIM: ONEV), one of the retail industry's leading
digital transformation software providers for in-store customer
service, announces that, contained within the Notice of AGM sent to
shareholders on 4 August 2017, is a resolution put to shareholders
regarding a proposed consolidation of share capital (the "Share
Consolidation") further detail of which is set out below.
The AGM will be held at the offices of Newgate Communications
Ltd, Sky Light City Tower, 50 Basinghall Street, London, EC2V 5DE
on Wednesday 6 September 2017 at 12.00 noon.
Proposed Share Consolidation
The Company's board of directors are seeking shareholder
approval for the consolidation of the Company's shares on a 1 for
10 basis ("New Ordinary Shares").
As at 16 August 2017, the Company had 825,581,298 ordinary
shares of 1 pence each in the Company ("Existing Ordinary Shares")
in issue. The Board believes that the Share Consolidation will
result in a more appropriate number of ordinary shares in issue for
a company of OneView's size and may also help to make the New
Ordinary Shares more attractive to investors going forward.
Following the Share Consolidation, shareholders will still hold
the same proportion of the Company's ordinary share capital as
before the Share Consolidation. Other than a change in nominal
value, the New Ordinary Shares will carry equivalent rights under
the Articles of Association to the Existing Ordinary Shares. The
New Ordinary Shares will continue to trade under the same TIDM
(ONEV) but will have a new ISIN: GB00BDCL4103.
Options currently in issue will also be consolidated on a 1 for
10 basis, and the exercise price adjusted accordingly.
Any fractional entitlements arising from the Share Consolidation
will be aggregated and sold in the market and the net proceeds will
be retained by the Company.
It is not considered that any taxation implications will exist
for shareholders arising from the Share Consolidation. However,
shareholders are advised to seek their own tax advice on the effect
of the Share Consolidation and neither the Company, nor its
advisers accept any responsibility for the individual taxation
implications arising from the Share Consolidation.
The expected timetable for the Share Consolidation is set out
below.
Notice of AGM posted to Shareholders 19 July 2017
Latest time and date for receipt of Forms of Proxy 12.00 p.m. on 4 September 2017
Annual general meeting 12.00 p.m. on 6 September 2017
Record date for consolidation 5.00 p.m. on 6 September 2017
Existing Ordinary Shares disabled in CREST and share register closed 5.00 p.m. on 6 September 2017
Expected date on which New Ordinary Shares admitted to AIM 8.00 a.m. on 7 September 2017
Expected date on which CREST accounts are to be credited 7 September 2017
Expected date by which definitive new share certificates are to be despatched 21 September 2016
ISIN of New Ordinary Shares GB00BDCL4103
Admission
Application will be made for the New Ordinary Shares to be
admitted to trading on AIM ("Admission"). Admission is expected on
or around 7 September 2017. The Company will make a further
announcement in relation to total voting rights once the final
number of New Ordinary Shares is calculated and confirmed at the
record date.
Further Details:
OneView Group Tel: 01634
plc 673172
Stuart Mitchell,
CEO
Linda Palanza,
COO
Mark Wilson, Finance
Director
finnCap Limited Tel: 0207
220 0500
Geoff Nash
Kate Bannatyne
Turner Pope Investments Tel: 020 3621
4120
Ben Turner
James Pope
Newgate Communications Tel: 020 7653
9848
Bob Huxford
Lydia Thompson
About OneView Commerce
OneView Commerce is a pioneer in digital store transformation,
helping global retailers implement successful unified commerce
strategies that centre on the critical engagement in store. The
company's cloud-based Digital Store Platform combines digital-ready
point of sale, line busting, and end-to-end unified commerce
capabilities, with the ability to capture and deliver the rich
content from these store interactions across the retail enterprise.
OneView enables the exchange of this powerful store information to
immediately impact sales, business operations and the customer
experience. Travis Perkins plc, Wickes, and Discount Tire
Corporation are among the global retailers revolutionizing their
stores with OneView Commerce. For more information, visit
www.oneviewcommerce.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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