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Norman Broadbent plc announced the posting of its 2024 Annual Report and Accounts and Notice of Annual General Meeting (AGM) on 22 April 2025. The AGM will be held on 22 May 2025 at 10:30 a.m. and includes a proposed share consolidation and sub-division. Shareholders on the register at 6:00 p.m. BST on 22 May 2025 will exchange every 70 existing ordinary shares of one pence each for two new ordinary shares of five pence each and 150 deferred shares of 0.4 pence nominal value.
| Date | 22 Apr 2025 |
| Time | 07:00:09 |
| Category | Results |
| ID | 5417F |
22 April 2025
Norman Broadbent plc
("Norman Broadbent", the "Company" or the "Group")
Posting of Annual Report and Accounts and Notice of Annual General Meeting
and
Proposed Share Consolidation and Sub-Division
Norman Broadbent (AIM: NBB), a leading Executive Search and Interim Management firm, is pleased to announce that its 2024 Annual Report and Accounts and notice ("Notice") of annual general meeting (the "AGM") are being posted later today to shareholders who have opted to receive them and copies are available on its website at https://www.normanbroadbent.com/company-documents
The AGM will be held on Thursday 22 May 2025 at 10:30am at the offices of One Advisory Limited, Temple Chambers, 3-7 Temple Avenue, London EC4Y 0DT.
Proposed Share Consolidation and Sub-Division
Resolution 12 set out in the Notice proposes that shareholders approve the consolidation and sub-division of the Company's issued ordinary share capital. Under the proposed share consolidation and sub-division, 70 ordinary shares of one pence each ("Existing Ordinary Shares") would be consolidated into one intermediate share with a nominal value of 70 pence ("Intermediate Share"). Each Intermediate Share would then be sub-divided and re-classified into two new ordinary shares with a nominal value of five pence each ("New Ordinary Shares") and 150 deferred shares of 0.4 pence nominal value ("Deferred Shares").
Upon implementation of the Share Consolidation and Sub-Division, shareholders on the register of members of the Company at 6.00 p.m. (BST) on 22 May 2025 ("Share Consolidation Record Date"), will exchange every 70 Existing Ordinary Shares they hold for two New Ordinary Shares of five pence each and 150 Deferred Shares of 0.4 pence nominal value.
To effect the Share Consolidation and Sub-Division, it will be necessary to issue such minimum number of additional Existing Ordinary Shares so that the aggregate nominal value of the ordinary share capital of the Company is exactly divisible by 70. It is therefore proposed that, in order to facilitate the Share Consolidation up to 69 additional Existing Ordinary Shares will be issued so that, immediately prior to the consolidation, the Company's issued share capital will be exactly divisible by 70. The new Existing Ordinary Shares will be issued at market value immediately following the AGM (assuming that resolution 12 is passed at the AGM) and sold to the market along with the aggregation of any fractional entitlements at the best price reasonably obtainable for the benefit of the Company, with proceeds being retained by the Company for its use.
An expected timetable of key events for the share consolidation and sub-division is set out below. Further details are set out in the Notice.
A further announcement will be made regarding the Company's revised total number of shares in issue and voting rights, should the requisite resolutions be passed at the AGM.
EXPECTED TIMETABLE
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Action |
Date |
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Date of AGM Notice and this announcement on the LSE |
22 April 2025 |
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Latest time and date for receipt of Forms of Proxy, CREST and proxy instructions and electronic registration of proxy appointments |
10.30 a.m. on 20 May 2025 |
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Voting Record Date for entitlement to vote at the Annual General Meeting |
6.00 p.m. on 20 May 2025 |
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Annual General Meeting |
10.30 a.m. on 22 May 2025 |
|
Announcement of results of the Annual General Meeting |
22 May 2025 |
|
SHARE CONSOLIDATION |
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Last day to trade in Existing Ordinary Shares and Share Consolidation Record Date |
6:00 p.m. on 22 May 2025 |
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Expected date of Admission and first day of dealings in the New Ordinary Shares on AIM |
8.00 a.m. on 23 May 2025 |
|
CREST accounts credited with New Ordinary Shares (uncertificated Shareholders only) |
23 May 2025 |
|
Expected date of dispatch of share certificates in respect of any New Ordinary Shares held in certificated form |
within 10 Business Days of Admission |
Any changes to the above timetable will be announced.
Contacts:
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Norman Broadbent plc |
+44 (0)20 7484 0000 |
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Kevin Davidson, CEO |
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Mehr Malik, CFO |
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Shore Capital (Nominated Adviser and Broker) |
+44 (0)20 7408 4090 |
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Tom Griffiths / Tom Knibbs (Corporate Advisory) |
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Henry Willcocks (Corporate Broking) |
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Alma (Financial Communications Adviser) |
+44 (0)20 3405 0205 |
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Rebecca Sanders-Hewett |
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Kinvara Verdon |
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David Ison |
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About Norman Broadbent:
Norman Broadbent (AIM: NBB) is a professional services firm focused on executive search, senior interim management solutions and bespoke leadership advisory services working across the UK and internationally.
Established as the first UK-headquartered search firm in 1979, the firm has a 40+ year track record of shaping leadership across industries including Consumer, Financial Services, Industrials, Life Sciences, Investor and TMT.