Made.com Group Plc Recommended MVL and Notice of GM (5335K)

TIDMMADE

RNS Number : 5335K

Made.com Group Plc

22 December 2022

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

22 December 2022

Made.com Group Plc

("MADE" or the "Company")

Recommended Members' Voluntary Liquidation of the Company

and

Publication of Circular and Notice of General Meeting

On 9 November 2022, the Company announced that MADE.com Design Ltd ("MDL"), MADE's operating subsidiary, had notified the Company that it had appointed Zelf Hussain, Peter David Dickens and Rachael Maria Wilkinson of PricewaterhouseCoopers LLP as administrators of MDL. The Company further announced that, following the suspension of the Company's shares from trading on the London Stock Exchange's Main Market for listed securities on 1 November 2022, the Board expected that in due course the listing of the Company's shares would be cancelled, any residual value would be distributed to the Company's shareholders and the Company would be wound up. As at the date of this announcement, the Company's shares remain suspended from trading on the London Stock Exchange.

After discussions with its advisers, and for the reasons further set out in the Circular referred to below, the Board is proposing that the Company is placed into Members' Voluntary Liquidation. This will enable liquidators appointed by the Company to realise the Company's remaining assets pending completion of the administration of MDL and for the Company to save the ongoing costs of a listed company in this period (as entry into the Members' Voluntary Liquidation will result in the listing of the Company's shares on the Official List being cancelled). Any residual value will then be distributed to shareholders and the Company will be wound-up in due course (the "Proposal").

A circular outlining the full details of the Proposal and recommendation to shareholders to vote in favour of resolutions to approve the Proposal (the "Circular") has today been published. The Circular includes a notice of a general meeting of the Company to be held on 16 January 2023 at 8:00am at the offices of Herbert Smith Freehills LLP, Exchange House, Primrose Street, London, EC2A 2EG, United Kingdom ("General Meeting") to consider resolutions to approve the Proposal.

Shareholders are encouraged to vote on the resolutions to be proposed at the General Meeting in advance. In order to ensure that votes are registered, shareholders are strongly advised to vote by Proxy Form, through the Registrar's online voting facility www.sharevote.co.uk , or in the case of CREST members, by utilising the service offered by Euroclear UK & International Limited for electronic proxy appointments, in advance of the deadline of 8:00am on 12 January 2023. The voting record date for the General Meeting will be 6.30pm on 12 January 2023. The total of the votes cast by shareholders for, against or withheld on each of the resolutions to be put to the meeting will be published on the Company's website shortly after the meeting.

A copy of the Circular has been sent to shareholders (other than those who have elected for notification by electronic communication) and an electronic copy will shortly be available to download from the Company's website at https://corporate.made.com/investors/ . A copy of the Circular has been submitted to the National Storage Mechanism and it will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism . The contents of the Company's website is not incorporated into and does not form part of this announcement.

Enquiries:

MADE

Nicola Thompson, Chief Executive Officer

Patrick Lewis, Chief Financial Officer

Laura Tyler, General Counsel & Company Secretary

companysecretary@made.com

PricewaterhouseCoopers LLP

Steven Sherry

Emma Cray

+44 (0) 20 7583 5000

J.P. Morgan Cazenove (Corporate Broker)

Bill Hutchings

James Summer

+44 207 742 4000

Terms used but not defined in this announcement have the meaning set out in the Circular.

LEI: 213800HTMSVKO71K6O71

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END

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(END) Dow Jones Newswires

December 22, 2022 02:00 ET (07:00 GMT)

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