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LONDON - Brighton Pier Group PLC, a UK-based leisure and entertainment company, announced today that its shareholders have approved all resolutions during a general meeting, setting the stage for the company’s transition from public to private status.
During the meeting held today, shareholders voted in favor of two key resolutions. The first, known as the Cancellation Resolution, received 83.39% of votes for and 16.61% against. The second, the Re-registration Resolution, mirrored the Cancellation Resolution with an identical percentage of votes for and against.
As a result of the Cancellation Resolution’s approval, Brighton Pier Group’s Ordinary Shares will be delisted from trading on the AIM market, with the cancellation expected to take effect at 7:00 a.m. on May 2, 2025. Consequently, the last day of dealings in Ordinary Shares on AIM will be May 1, 2025.
Following the approval of the Re-registration Resolution, the company will proceed with re-registering as a private limited company and will adopt new articles of association. This process is anticipated to be completed by May 12, 2025.
In preparation for these changes, Brighton Pier Group has arranged for JP Jenkins to provide a share Exchange Facility and Matched Bargain Facility to assist shareholders with transactions in the company’s Ordinary Shares once they are no longer traded on AIM. The Exchange Facility will be available from the date of cancellation and is expected to remain in place for at least five years. The Matched Bargain Facility will become available after the Exchange Facility expires. Details regarding these facilities will be accessible to shareholders on the company’s website.
The resolutions passed today are part of the company’s strategic shift and reflect the shareholders’ support for the company’s future direction as a privately held entity. The information for this article is based on a press release statement from Brighton Pier Group PLC.
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