AIM: KBT
K3 Business Technology Group plc
("K3" or "the Company")
Result of General Meeting to approve the Disposal of
NexSys Solutions Limited for £36.0m
K3, the provider of business-critical software solutions focused on fashion and apparel brands, is pleased to announce that at a general meeting of the Company, held today pursuant to Rule 15 of the AIM Rules for Companies, the resolution to approve the sale of NexSys Solution Limited to SYSPRO, which is operated by Safari UK Bidco Limited, a company controlled by funds managed and/or advised by Advent International, LP, was passed by shareholders voting on a poll.
The results of the poll are set out below.
| Votes for | % | Votes against | % | Total votes | % of issued share capital voted | Votes withheld |
| 40,797,860 | 100 | 0 | 0 | 40,797,860 | 91.2% | 0 |
Completion of the sale is expected to be on or around 8 January 2025 when the Company will receive total cash consideration of £36.0 million (£34.4 million after deducting transaction costs).
Enquiries:
| K3 Business Technology Group plc | Oliver Scott, Chairman Eric Dodd, Chief Executive Officer | T: c/o 020 3178 6378
|
| | | |
| Cavendish Capital Markets (NOMAD & Broker) | Julian Blunt/ Dan Hodkinson (Corporate Finance) Sunila De Silva (Corporate Broking) | T: 020 7220 0500 |
| | | |
| KTZ Communications | Katie Tzouliadis/ Robert Morton | T: 020 3178 6378 |
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
