26 April 2024
Steppe Cement Limited
("Steppe Cement" or
the "Company")
Result of
EGM
Steppe Cement Limited is pleased to announce
the result of the EGM held earlier today.
Shareholders approved the Special Resolution
for a capital repayment of approximately 1.5 pence per ordinary share of no
par value each, effected by way of Capital Reduction pursuant to
Section 53(9A) of the Labuan Companies act 1990 (the "Capital
Repayment"), with 99.97% of votes cast in favour.
The share capital of the Company will be
reduced from USD73,760,924 (divided into 219,000,000 Ordinary
Shares) to USD69,599,924 (divided into 219,000,000 Ordinary
Shares), and that such reduction be effected by the capital
repayment of USD4,161,000, which will be paid in GBP,
and is expected to represent approximately 1.5 pence per ordinary
share of no par value each, to Entitled Shareholders at the Record
Date.
The number of shares outstanding will remain
the same at 219,000,000.
The Capital Repayment is expected to be
completed later in Q2 2024, with further announcements, including
the Record Date, to be made in due course by the
Company.
Terms used in
this announcement, but which are otherwise undefined shall have the
same meanings as set out in the Circular announced and published on
5 April 2024.
For further information, please
contact:
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Steppe Cement Limited
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www.steppecement.com
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Javier del Ser Pérez, Chief Executive
Officer
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Tel:
+(603) 2166 0361
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Strand Hanson Limited (Nominated & Financial Adviser and
Broker)
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www.strandhanson.co.uk
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James Spinney / Ritchie Balmer /
Robert Collins
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Tel: +44
20 7409 3494
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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 as it forms part of
United Kingdom domestic law by virtue of the European Union
(Withdrawal) Act 2018, as amended by virtue of the Market Abuse
(Amendment) (EU Exit) Regulations 2019.