REG - Sondrel (Holdings) - Result of General Meeting

Sondrel (Holdings)Announcement

30/05/2024 14:00

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RNS Number : 5074Q  Sondrel (Holdings) plc  30 May 2024

30 May 2024

Sondrel (Holdings) plc

("Sondrel", the "Company" and together with its subsidiaries the "Group")

 

Result of General Meeting

 

Sondrel (AIM: SND), a leading provider of ultra-complex chips for leading
global technology brands, announces that all three resolutions, as set out in
the notice of General Meeting published on 14 May 2024 (the "Notice"), put to
shareholders at the Company's General Meeting today were duly passed on a
poll. Resolutions numbered 1 and 2 in the Notice were passed as ordinary
resolutions and resolution numbered 3 in the Notice was passed as a special
resolution.

 

The voting results will be made available on the Company's website shortly at
https://ir.sondrel.com/investors/shareholder-information#notices
(https://ir.sondrel.com/investors/shareholder-information#notices)

 

As announced on 29 May 2024, the  subscription by ROX Equity Partners Limited
("ROX") for 56,254,000 new ordinary shares of £0.001 each in the capital of
the Company ("New Ordinary Shares") at an issue price of 10 pence per New
Ordinary Share  ("Subscription") remains conditional, inter alia, on approval
by the UK secretary of state of ROX's proposed investment in the Company as
required by the National Security and Investment Act 2021 ("NSIA Approval").

 

The conversion of the ROX Loans (as defined in the Circular sent to
shareholders with the Notice) into a total of 28,746,000 New Ordinary Shares
at an issue price of 10 pence per New Ordinary Share can take place at the
discretion of ROX or, if earlier, automatically on admission of the 56,254,000
New Ordinary Shares to be issued pursuant to the Subscription. If the NSIA
Approval is not obtained, ROX will have the option to convert the ROX Loans
but will not acquire any further New Ordinary Shares pursuant to the
Subscription.

 

Sondrel confirms that the NSIA Approval was not received prior to the General
Meeting. As such, it is currently anticipated that admission of the New
Ordinary Shares will take place after 31 May 2024, but prior to the agreed
long stop date of 8:00 am on 13 June 2024.

 

A further announcement in connection with the status of the NSIA Approval,
together with an updated admission date, will be made in due course as and
when appropriate.

 

 

For further information:

 

 Sondrel (Holdings) plc                                        Via Buchanan
 Graham Curren, CEO                                            Tel: +44 (0) 20 7466 5000
 Nick Stone, Interim CFO

 Cavendish Capital Markets Limited                             Tel: +44 (0) 20 7220 0500
 Ben Jeynes / Katy Birkin / George Lawson - Corporate Finance
 Michael Johnson - Sales

 Buchanan Communications                                       Tel: +44 (0) 20 7466 5000
 Chris Lane / Stephanie Whitmore / Abby Gilchrist              sondrel@buchanan.uk.com (mailto:sondrel@buchanan.uk.com)

About Sondrel

Sondrel is a UK-based fabless semiconductor company specialising in high end,
complex digital Application Specific Integrated Circuits (ASICs) and System on
Chips (SOCs). It provides a full turnkey service in the design, prototyping,
testing, packaging and production of ASICs and SoCs.

 The Company is one of only a few companies capable of designing and
supplying the higher-spec chips built on the most advanced semiconductor
technologies, selling into a range of hyper growth end markets such as
high-performance computing, automotive, artificial intelligence, VR/AR, video
analytics, image processing, mobile networking and data centres.  Sondrel
designs have enabled products by leading technology brands including Apple
(iPhone), Sony (PlayStation), Meta's (Oculus), Samsung, Google and Sony
smartphones, JVC (prosumer camcorders), Tesla and Mercedes-Benz cars.

 Sondrel is well-established, with a 20-year track record of successful
delivery, supported by long standing ecosystem partnerships including Arm,
TSMC and Samsung. Headquartered in the UK, Sondrel has a global presence with
offices in UK, USA, China, India and Morocco.

For more information please visit: ir.sondrel.com
(http://www.ir.sondrel.com/) .

 

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