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Bay Capital Plc announced the expiration of the FCA's Transition Provisions for shell companies on 29 July 2025. The Board of Directors intend to propose a resolution at the next general meeting to amend the Company's articles of association to comply with UKLR 13.2.1R. This amendment would stipulate that if Bay Capital Plc has not completed an initial transaction by 30 July 2027, it will cease operations and return excess cash to shareholders.
| Date | 18 Aug 2025 |
| Time | 11:00:29 |
| Category | Miscellaneous |
| ID | 7157V |
18 August 2025
BAY CAPITAL PLC
Expiration of FCA Transition Provisions
Bay Capital Plc (LSE: BAY, "Bay" or the "Company"), the Main Market listed acquisition company, announces that further to the expiration of the FCA's Transition Provisions in relation to shell companies which occurred on 29 July 2025, the Board of Directors of the Company intend to include a resolution at the next general meeting of Company's shareholders to recommend a change to the Company's articles of association in order to comply with UKLR 13.2.1R.
Under this resolution, the Directors will recommend that the articles of association of the Company are amended to provide that if the Company has not completed an initial transaction on or before the 30 July 2027, it will cease operations and return any excess cash to shareholders.
Enquiries:
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Tessera Investment Management Limited |
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Tony Morris |
+44 (0) 7742 189145 |