BLACK SEA PROPERTY PLC
("Black Sea Property" or the "Company")
Result of Annual General Meeting, Board Change and Suspension of Trading
Black Sea Property Plc announces that the result of the Company's Annual General Meeting, held earlier today, was as follows:
- Resolutions 3 and 5 (relating to the appointment and remuneration of Alex Borrelli, Non-executive Chairman of the Company) were withdrawn;
- Resolutions 6, 7, 9 and 10 (to re-appoint FIM Capital Limited as Administrators of the Company; to liquidate the Company's five dormant Jersey subsidiaries; to authorise the Directors to set a budget for the Company; and to disapply pre-emption rights) were not passed; and
- Resolutions 1, 2, 4 and 8 (to adopt the Company's audited accounts; to appoint Grant Thornton as auditors; to maintain the Company's listing on the AQUIS Stock Exchange; and to ratify the loan of €196,000 to Phoenix Capital Holding AD) were duly passed.
The Company also announces that Alex Borrelli, Non-executive Chairman of the Company, has resigned with effect from the close of the Annual General Meeting.
As a result of Mr. Borrelli's resignation, the Company requested that trading in the Company's ordinary shares on the AQSE Growth Market be suspended, pending the appointment of a replacement Non- Executive Director.
The Directors of the issuer accept responsibility for the contents of this announcement.
For further information, please visit www.blackseapropertyplc.com or contact the following:
| BLACK SEA PROPERTY PLC Alex Borrelli - Chairman
|
+44 (0) 774 702 0600 |
| PETERHOUSE CAPITAL LIMITED AQSE Corporate Adviser Heena Karani |
+44 (0) 20 7469 0930 |
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
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