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LONDON - Bigblu Broadband plc (AIM: BBB.L), a provider of alternative super-fast and ultra-fast broadband services, has announced a proposal to sell its subsidiary SkyMesh Pty Ltd. The company has also scheduled a General Meeting for shareholders to discuss and potentially approve the sale. The meeting is set to take place at 9:00 a.m. on December 20, 2024, at Harwood Capital LLP's offices in Mayfair, London.
The announcement, which follows a previous statement made on December 2, 2024, comes as part of Bigblu Broadband's ongoing strategic review of its operations. The decision to sell SkyMesh is aimed at optimizing the company's portfolio and focusing on core areas of growth.
Shareholders have been provided with a Circular that includes further details about the disposal and a Form of Proxy. These documents are available for viewing on Bigblu Broadband's website, which hosts investor information and complies with AIM Rule 26.
While the terms of the sale have not been disclosed, the proposed disposal is subject to shareholder approval at the upcoming General Meeting. The outcome of the meeting will determine the final decision regarding the sale of SkyMesh.
The information regarding the sale and the General Meeting is based on a press release statement and has been made available through RNS, the news service of the London Stock Exchange (LON:LSEG). Bigblu Broadband has not provided additional comments on the potential financial impact of the sale or on the identity of the buyer.
Investors and stakeholders are advised to review the Circular for a comprehensive understanding of the implications of the proposed sale and to participate in the decision-making process at the General Meeting.
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