Result of General Meeting

Silverwood Brands PLC

08 March 2024

 

8 March 2024

Silverwood Brands plc

("Silverwood" or the "Company", together with its subsidiaries, the "Group")

Result of General Meeting

Silverwood Brands plc (Aquis: SLWD), a holding company established to invest primarily in branded consumer businesses, is pleased to announce that the Resolution to approve the Capital Reduction announced on 20 February 2024 was duly passed by a show of hands at the General Meeting of the Company held today.

The total proxy votes were cast as follows:

Resolution	For		Against		Total votes cast as % of Issued Share Capital*	Votes Withheld
	Number of Votes	% of votes cast	Number of Votes	% of votes cast
Proposed Cancellation of Consideration Shares, Reduction of Share Capital and the release of the Lush Vendors from any and all obligations arising under or in connection with the SPA, Deed of Grant and Powers of Attorney or with immediate effect	37,317,353	100%	0	0%	87.8%	0%

* The Company's issued share capital consists of 270,712,808 Ordinary Shares. Each Ordinary Share carries the right to vote at a general meeting of the Company, and therefore, the total number of voting rights in the Company is 270,712,808. However, it was agreed that the holders of the Consideration Shares would not exercise their voting rights in relation to those shares. Accordingly, the total number of voting rights in the Company that could be exercised at the General Meeting was 42,500,176.  The percentage in the table above is the number of shares voted by proxy as a percentage of that total.

The Company will now apply to the Court for confirmation of the cancellation of the Share Premium Account and the Consideration Shares. Such confirmation is expected to be received on or around 16 April 2024 and the Capital Reduction is expected to take effect on or around 18 April 2024, when the order of the Court confirming the Capital Reduction has been registered by the Registrar of Companies. Subject to that registration, trading in the Ordinary Shares on the Aquis Growth Market is expected to be restored on or around 19 April 2024.

Further announcements will be made as appropriate.

Words and expressions defined in the circular to Shareholders dated 20 February 2024 have the same meaning in this announcement. The circular is available on the Company's website at www.silverwoodbrands.com.

For further information, please contact: 

Silverwood Brands plc Andrew Gerrie Paul Hodgins	[e-mail]
Peterhouse Capital Limited (Aquis Corporate Adviser) Mark Anwyl Narisha Ragoonanthun Brefo Gyasi	[phone]

 

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