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LONDON - Samarkand Group PLC (AQSE:SMK), a provider of cross-border eCommerce technology solutions, has announced the approval of all proposed resolutions during its General Meeting held on Monday. Shareholders voted in favor of the withdrawal of the company’s Ordinary Shares from trading on the AQSE Growth Market, with the last day of trading set for Friday.
The resolutions included re-registering Samarkand as a private limited company and adopting new articles of association. A significant majority of 87.55% of votes cast supported the withdrawal of shares from the AQSE Growth Market, and a similar majority backed the re-registration as a private limited company.
The change will take effect from 7:00 a.m. on May 7, 2025, with trading under the new Matched Bargain Facility by JP Jenkins starting an hour later at 8:00 a.m. on the same day.
The detailed voting results revealed strong shareholder support for the company’s strategic shift, with over 77% of votes cast by independent shareholders authorizing the directors to take necessary actions to effect the withdrawal.
The move comes as Samarkand embarks on a new chapter, transitioning from a public entity to a private one. The company’s issued share capital at the time of the General Meeting comprised 58,358,201 Ordinary Shares, each with one vote, and no shares held in treasury.
The transition to a private company structure is a strategic decision by Samarkand, reflecting a broader trend where companies opt for the flexibility and privacy that a private entity can offer. The company’s management and shareholders appear to be in alignment regarding this new direction, as indicated by the voting outcomes.
This article is based on a press release statement and provides an overview of the factual events surrounding the Samarkand Group’s General Meeting and subsequent shareholder decisions.
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