LONDON - Atrato Onsite Energy plc, a listed company, announced on Friday that its shareholders have approved a special resolution for the company to enter into members' voluntary liquidation. The resolution was passed during a General Meeting held earlier today.
The poll results showed an overwhelming majority in favor, with 99.93% of votes cast supporting the liquidation, representing 47.67% of the issued share capital. A mere 0.07% voted against the proposal. Ernst & Young LLP's Derek Neil Hyslop and Richard Peter Barker have been appointed as joint liquidators.
In line with the liquidation process, trading of the company's Ordinary Shares on the London Stock Exchange (LON:LSEG) was suspended this morning, and steps have been taken to cancel the listing and trading of the shares from 8.00 a.m. on December 16, 2024.
The company anticipates that the liquidators will be able to make an initial distribution of the net assets in late January or early February 2025, with an estimated value of no less than 77.0 pence per Ordinary Share.
The decision to liquidate follows the publication of a shareholder circular on November 27, 2024, which detailed the proposal and scheduled the General Meeting. The company has made all relevant documents available on its website and will submit the full text of the resolution to the National Storage Mechanism of the Financial Conduct Authority for public inspection.
This move comes as part of the process outlined in the Liquidation Circular and marks a significant step in the company's winding-up proceedings. The information regarding the liquidation and distribution plans is based on a press release statement from Atrato Onsite Energy plc.
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