Prospex Announces Requisition to Convene a General Meeting

Source: 8/24/2021, Location: North America

The Board of Prospex (the "Board") announces that, further to its 13 August 2021 RNS, it has now received a letter from Jarvis Investment Management Limited validly requisitioning a general meeting ("GM") of the Company's shareholders (the "Requisition").

The Requisition proposes that shareholders be asked to consider the following resolutions:
1. The appointment of Leo Willem Koot to the Board
2. The appointment of Gordon Bowman Stein to the Board
3. The appointment of Stephen Bocciolo to the Board
4. The appointment of Michael Douglas to the Board
5. The removal of William Hartman Smith from the Board
6. The removal of Richard Paul Mays from the Board
7. The removal of Mark Christopher Routh from the Board
8. The removal of Alasdair Buchanan from the Board, should he be appointed ahead of the GM
9. To authorise the directors to allot shares in the Company up to a nominal value of £125,000
10. To authorise the directors to disapply pre-emption rights over the allotment of shares in the Company up to a nominal value of £125,000

The changes to the Board proposed in resolutions 1-8 are all proposed to take place immediately in the event the resolutions are passed. Resolutions 1-9 are to be proposed as ordinary resolutions, while resolution 10 is to be proposed as a special resolution.

Having taken legal advice, the Board has ascertained that the documentation as received is valid and accordingly, the Company will, no later than 9 September 2021, post a circular convening the GM to shareholders.

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