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LONDON - Cerillion plc, a provider of billing, charging, and customer relationship management software solutions, has announced a General Meeting to address procedural discrepancies under the Companies Act 2006 related to the payment of past dividends. The company recognized it had not filed interim accounts as required by the Act before distributing dividends, despite having sufficient distributable profits.
The General Meeting, set for 9 a.m. on May 16, 2025, will be conducted electronically. Shareholders will be asked to grant the Board authority to enter into waivers that would retrospectively satisfy the procedural requirements and align with the original intentions of the distributions.
These waivers are considered related party transactions under AIM Rule 13, which governs the AIM, a market of the London Stock Exchange (LON:LSEG). Due to the directors’ interests in the waivers, they are unable to recommend how shareholders should vote, although they do encourage shareholders to participate in the voting process. Panmure Liberum, acting as the company’s Nominated Adviser, has advised that the waivers are fair and reasonable for shareholders.
The company has assured that this matter does not affect its financial position, which remains unchanged from the last report on April 14, 2025. Further details on the resolution will be available on Cerillion’s website shortly.
This article is based on a press release statement from Cerillion plc.
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