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LONDON - Sorted Group Holdings Plc (AIM:SORT) will hold its Annual General Meeting on Monday, September 25, 2025, at the offices of Turner Pope Investments in London, the company announced Wednesday.
The e-commerce technology company is proposing a share capital reorganisation to address the issue that its current share price of 30 pence sits below the nominal value of 62.50 pence per ordinary share, which legally prevents the company from issuing new shares below nominal value.
Under the proposed reorganisation, each existing ordinary share will be subdivided into one new ordinary share with a nominal value of 0.01 pence and one deferred share with a nominal value of 62.49 pence.
The new ordinary shares will maintain the same rights as existing shares, while the deferred shares will have limited rights and be effectively valueless. Shareholders will not receive certificates for the deferred shares, which will not be admitted to trading on AIM or any other exchange.
Sorted emphasized that the total number of shares in issue and held by each shareholder will remain unchanged at 7,639,705 shares. Only the nominal value will be affected by the reorganisation.
If approved at the AGM, the share capital reorganisation will be implemented with the new ordinary shares admitted to trading on AIM on September 26, 2025. The new ordinary shares will retain the same ISIN number and SEDOL code as the existing shares.
The company stated that a circular containing the AGM notice is being sent to shareholders. This information is based on a press release statement from Sorted Group Holdings.
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