Unigel Group PLC - Notice of GM, Proposed Issue of Equity and RPT

Unigel Group plc

(the "Group" or the "Company")

Notice of General Meeting, Proposed Issue of Equity and Related Party Transaction

Unigel Group plc (AQSE: UNX), the manufacturer and supplier of materials used in the manufacture of telecommunication fibre optic cables announces that it has conditionally issued 3,173,106 new ordinary shares at a price of 64 pence per new ordinary share to Unigel Limited ("Share Issuance"), a Hong Kong incorporated company, in lieu of a £2,030,787.84 loan owed to Unigel Limited. The Share Issuance is conditional upon shareholder approval at the Company's forthcoming general meeting.

Related Party Transaction

Unigel Limited is considered a "Related Party" as a result of Eric Chhoa, a director of the Company, being the sole shareholder of Unigel Limited. Accordingly, the Share Issuance constitutes a related party transaction for the purposes of Rule 4.6 of the AQSE Growth Market Access Rulebook.

The directors of the Company independent of the Share Issuance confirm that, having exercised reasonable care, skill and diligence, the related party transaction is fair and reasonable insofar as the shareholders of Unigel Group plc are concerned.

If the Share Issuance is approved, Eric Chhoa will hold 9,667,560 ordinary shares in the Company representing 66.9 per cent. of the Company's enlarged issued share capital.

Notice of General Meeting

The Company announces that it has convened a General Meeting ("GM") of the Company which will be held on 23 February 2024 at 11:00 a.m. at the offices of Shakespeare Martineau LLP at 6th Floor, 60 Gracechurch Street, London, EC3V 0HR, United Kingdom.

A notice of GM, together with the form of proxy, has been sent to the shareholders of the Company ("Shareholders") today. The notice of GM will also be shortly available for inspection on the Company website, http://www.unigel.com.

Full details of the operation and arrangements for the GM are set out in the notice of GM.

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

Enquiries:  

Notes to Editors

Unigel Group plc is the holding company whose operating subsidiaries, Unigel (UK) Limited ("Unigel") and Unitape Limited ("Unitape") manufacture and distribute materials used in the manufacture of telecommunication fibre optic cables.

Unigel formulates, manufactures, and markets thixotropic gels primarily to the fibre optic cable industry. In addition, it also makes specialty gel products for the construction, green energy, and high voltage transmission apparatus markets.

Unitape is one of the largest domestic manufacturers and suppliers of laminated steel tapes to the fibre optic cable industry in North America.