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CHECKIT PLC

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Delayed London Stock Exchange  -  05/24 03:19:01 am EDT
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Checkit : Circular and Notice of General Meeting

11/29/2021 | 12:21pm EDT

THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. If you are in any doubt about the contents of this document or as to what action you should take, you should immediately consult your stockbroker, bank manager, solicitor, accountant or other independent financial adviser duly authorised under the Financial Services and Markets Act 2000 (as amended) if you are a resident of the United Kingdom or, if not, another appropriately authorised independent professional adviser.

The Existing Ordinary Shares are admitted to trading on AIM. AIM is a market designed primarily for emerging or smaller companies to which a higher investment risk tends to be attached than to larger or more established companies. AIM securities are not admitted to the Official List of the United Kingdom Listing Authority. The London Stock Exchange has not itself examined or approved the contents of this document.

If you have sold or otherwise transferred all of your Ordinary Shares, please send this document and the accompanying proxy form as soon as possible to the purchaser or transferee, or to the stockbroker or other agent through whom the sale or transfer was effected for transmission to the purchaser or transferee. If you have sold or otherwise transferred some (but not all) of your Ordinary Shares, please retain these documents and consult the stockbroker or other agent through whom the sale or transfer was effected immediately.

The Placing Shares shall only be available to qualified investors for the purposes of the Prospectus Regulation Rules or otherwise in circumstances not resulting in an offer of transferable securities to the public under section 102B of FSMA. The Placing does not constitute an offer to the public requiring an approved prospectus under section 85 of FSMA and accordingly this document does not constitute a prospectus for the purposes of the Prospectus Regulation Rules of FCA nor does it comprise an admission document prepared in accordance with the AIM Rules. Accordingly, this document has not been approved by or filed with FCA, the London Stock Exchange or any other regulatory authority. This document does not constitute or form part of any offer or invitation to sell or issue, or a solicitation of any offer to acquire, purchase or subscribe for, Ordinary Shares.

Application will be made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM, subject to the Resolutions being passed at the General Meeting. On the assumption that, inter alia, the Resolutions are passed, it is expected that Admission will occur and dealings will commence in the Placing Shares at 8.00 a.m. on 17 December 2021. The Placing Shares will, when issued, rank pari passu in all respects with the Existing Ordinary Shares, including the right to receive all dividends or other distributions declared, made or paid on or after they are issued.

Checkit plc

(Registered in England and Wales with company number 00448274)

Placing of 45,561,020 new Ordinary Shares at a price of 46 pence per share to raise gross

proceeds of £21.0 million

Authority to allot shares and disapply pre-emption rights

and

Notice of General Meeting

This document should be read in its entirety. Your attention is also drawn to the letter from the Chair set out in Part I of this document recommending you vote in favour of the Resolutions to be proposed at the General Meeting which is referred to below. You should read the whole of this document carefully. Capitalised words and phrases used in this document shall have the meanings given to them in the definitions section of this document.

Singer Capital Markets Advisory LLP, which is authorised and regulated in the United Kingdom by the FCA, is acting as nominated adviser exclusively for the Company in connection with the Placing and is not acting for any other person (including a recipient of this document) and will not be responsible to any other person for providing the protections afforded to customers of Singer Capital Markets Advisory LLP, or for advising any other person in connection with Admission. The responsibilities of Singer

Capital Markets Advisory LLP, as nominated adviser, are owed solely to the London Stock Exchange and are not owed to the Company or the Directors or any other person. No representation or warranty, express or implied, is made by Singer Capital Markets Advisory LLP or any of its directors, officers, partners, employees, agents or advisers as to the contents of this document including its accuracy, completeness or verification, or for any other statement made or purported to be made by it or on its behalf, in connection with the Placing (without limiting the statutory rights of any person to whom this document is issued). Singer Capital Markets Advisory LLP has not approved the contents of, or any part of, this document for any purpose and no liability whatsoever is accepted by Singer Capital Markets Advisory LLP or any of its directors, officers, partners, employees, agents or advisers for the accuracy of any information or opinions contained in this document or for the omission of any material information for which it is not responsible.

Singer Capital Markets Securities Limited, which is authorised and regulated in the United Kingdom by the FCA, is acting as bookrunner and broker exclusively for the Company in connection with the Placing and is not acting for any other person (including a recipient of this document) and will not be responsible to any other person for providing the protections afforded to customers of Singer Capital Markets Securities Limited, or for advising any other person in connection with Admission. No representation or warranty, express or implied, is made by Singer Capital Markets Securities Limited or any of its directors, officers, partners, employees, agents or advisers as to the contents of this document including its accuracy, completeness or verification, or for any other statement made or purported to be made by it or on its behalf, in connection with the Placing (without limiting the statutory rights of any person to whom this document is issued). Singer Capital Markets Securities Limited has not approved the contents of, or any part of, this document for any purpose and no liability whatsoever is accepted by Singer Capital Markets Securities Limited or any of its directors, officers, partners, employees, agents or advisers for the accuracy of any information or opinions contained in this document or for the omission of any material information for which it is not responsible.

The distribution of this document and the offer of the Placing Shares in certain jurisdictions may be restricted by law or regulation. Accordingly, this document must not be distributed or published in any jurisdiction except under circumstances that will result in compliance with any applicable laws and regulations. Persons outside of the UK into whose possession this document comes should inform themselves about and observe any such restrictions. Overseas shareholders and any person (including, without limitation, custodians, nominees and trustees) who have a contractual or other legal obligation to forward this document to a jurisdiction outside the UK should seek appropriate advice before taking any action. Any failure to comply with these restrictions may constitute a violation of relevant securities laws or regulations of the jurisdictions concerned. It is the responsibility of any person receiving a copy of this document outside the United Kingdom to satisfy themselves as to the full observance of the laws and regulatory requirements of the relevant territory in connection therewith, including obtaining any governmental or other consents which may be required or observing any other formalities required to be observed in such territory and paying any other issue, transfer or other taxes due in such other territory. Persons (including, without limitation, custodians, nominees and trustees) receiving this document should not distribute or send this document into any jurisdiction when to do so would, or might, contravene local securities laws or regulations.

The Ordinary Shares have not been, nor will they be, registered under the United States Securities Act of 1933, as amended ("US Securities Act"), or with any securities regulatory authority of any state or other jurisdiction of the United States or under the applicable securities laws of Australia, Canada, New Zealand, Japan or the Republic of South Africa. Subject to certain exceptions, the Ordinary Shares may not be offered or sold, directly or indirectly, in or into the United States, Australia, Canada, New Zealand, Japan or the Republic of South Africa or to or for the account or benefit of any national, resident or citizen of Australia, Canada, New Zealand, Japan or the Republic of South Africa or any person located in the United States. This document does not constitute an offer to issue or sell, or the solicitation of an offer to subscribe for or buy, any Ordinary Shares to any person in any jurisdiction to whom it is unlawful to make such offer or solicitation in such jurisdiction. Without limiting the generality of the foregoing, subject to certain exemptions in accordance with United States federal and applicable state securities laws and pursuant to the US Securities Act, this document does not constitute an offer of Ordinary Shares to any person with a registered address, or who is resident in, the United States, or who is otherwise a "U.S. Person" as defined in Regulation S under the US Securities Act. The Ordinary Shares may not be offered, sold, taken up, resold, transferred or delivered directly or indirectly, within, into or in the United States except pursuant to an applicable exemption from, or in a transaction not subject to,

2

the registration requirements of the US Securities Act and in compliance with the securities laws of any state or other jurisdiction of the United States. Subject to certain exceptions, Ordinary Shares are being offered and sold only outside the United States in offshore transactions within the meaning of, and in accordance with, the safe harbour from the registration requirements in Regulation S under the US Securities Act. There will be no public offer of Ordinary Shares in the United States.

Certain data in this document, including financial, statistical and operational information has been rounded. As a result of the rounding, the totals of data presented in this document may vary slightly from the actual arithmetical totals of such data. Percentages in tables have been rounded and, accordingly, may not add up to 100 per cent. In this document, references to "pounds sterling", "£", "pence" and "p" are to the lawful currency of the United Kingdom. All references to legislation in this document and the Form of Proxy are to the legislation of England unless the contrary is indicated. Any reference to any provision of any legislation or regulation shall include any amendment, modification, re-enactment or extension thereof.

Words importing the singular shall include the plural and vice versa, and words importing the masculine gender shall include the feminine or neutral gender.

THE GENERAL MEETING

Notice convening a General Meeting of the Company to be held at the offices of Fieldfisher LLP, Riverbank House, 2 Swan Lane, London EC4R 3TT on 16 December 2021 at 10.00 a.m. is set out at the end of this document. Shareholders will also find enclosed with this document a proxy form. To be valid, the proxy form must be signed and returned in accordance with the instructions printed on it so as to be received by the Company's registrars, Link Group, PXS 1, Central Square, 29 Wellington Street, Leeds, LS1 4DL as soon as possible but in any event no later than 10.00 a.m. on 14 December 2021.

As an alternative to completing the hard copy Form of Proxy, you can appoint a proxy electronically online at www.signalshares.com and by completing the authentication requirements as set out on the Form of Proxy. For an electronic proxy appointment to be valid, your appointment must be received by the Company's registrars, Link Group, PXS 1, Central Square, 29 Wellington Street, Leeds, LS1 4DL as soon as possible but in any event no later than 10.00 a.m. on 14 December 2021. Shareholders who hold their shares in uncertificated form may use the CREST electronic proxy appointment service. In order for a proxy appointment made using the CREST service to be valid, the appropriate CREST message must be properly authenticated and contain the information required for such instructions as described in the CREST Manual. The message must be transmitted so as to be received by the Company's registrars, Link Group (ID RA10), by no later than 10.00 a.m. on 14 December 2021.

Forward Looking Statements

Certain statements contained in this document constitute forward-looking statements. When used in this document, the words may, would, could, will, intend, plan, anticipate, believe, seek, propose, estimate, expect, and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. These statements are primarily contained in Part I of this document. Such statements reflect the Company's current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the Company's actual results, performance or achievements to vary from those described in this document. Should one or more of these risks or uncertainties materialise, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this document as intended, planned, anticipated, believed, proposed, estimated or expected.

The forward looking statements in this document are based on current expectations and intentions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these statements. Whilst the Directors consider these assumptions to be reasonable based upon information currently available, they may prove to be incorrect. Save as required by law or by the AIM Rules, the Company undertakes no obligation to publicly release the results of any revisions to any forward-looking statements in this document that may occur due to any change in the Directors' expectations or to reflect events or circumstances after the date of this document.

3

Copies of this document will be available free of charge from the Company's registered office during normal business hours on each day (excluding Saturday, Sunday and public holidays) from the date hereof until the date of the General Meeting. Copies will also be available from the Company's website at www.checkit.net

4

CONTENTS

Page

DIRECTORS, SECRETARY AND ADVISERS

6

EXPECTED TIMETABLE OF PRINCIPAL EVENTS

7

SHARE CAPITAL AND PLACING STATISTICS

8

DEFINITIONS

9

PART I - LETTER FROM THE CHAIR

11

PART II - NOTICE OF GENERAL MEETING

21

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Checkit plc published this content on 29 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 November 2021 17:20:03 UTC.


© Publicnow 2021
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Sales 2023 11,2 M 14,0 M 14,0 M
Net income 2023 -9,40 M -11,8 M -11,8 M
Net cash 2023 14,8 M 18,6 M 18,6 M
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Number of Analysts 1
Last Close Price 36,00 GBX
Average target price 78,00 GBX
Spread / Average Target 117%
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Kit Kyte Chief Executive Officer
Gregory Laurence Price Chief Financial Officer
Keith Anthony Daley Non-Executive Chairman
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