Cambridge (UK) 8 January 2021: Global Graphics PLC (Euronext: GLOG) announces the result of its General Meeting that was held today (the “Meeting”).
Further to the Company’s announcement on 10 December 2020 regarding the proposed acquisition of HYBRID Software Group S.à r.l. (“HYBRID”) from Congra Software S.à r.l (“Congra”), the Company is pleased to announce that at the Meeting held earlier today, the ordinary resolution proposed at the Meeting was passed without amendment, authorising the allotment of 21,074,030 ordinary shares to Congra in exchange for the entire issued share capital of HYBRID.
Full details of the resolution passed and the acquisition are available in the Notice of the General Meeting and other related documents, all of which are available on the Company’s website at https://investor.globalgraphics.com/investors/hybrid-software-acquisition.
Whilst Congra, in its capacity as the Company’s majority shareholder was entitled to vote and did vote at the Meeting, the Directors of the Company were pleased to see that the resolution held the support of the Company’s other shareholders as the resolution would have passed, with 76.5% of the votes cast in favour of the resolution, had Congra’s votes not been included.
Following the passing of the resolution at today’s meeting, it is expected that completion of the acquisition of HYBRID will occur in the next few days, after the required closing actions have been completed by all parties. A further announcement will be made at the time of completion of the acquisition.
About Global Graphics
Through its operating subsidiaries, Global Graphics PLC (Euronext Brussels: GLOG) is a leading developer of integrated hardware and software solutions for graphics and industrial inkjet printing. Customers include press manufacturers such as HP, Canon, Durst, Roland, Hymmen and Mark Andy. Global Graphics PLC is headquartered in Cambridge UK. Its subsidiary companies are printing software developers Global Graphics Software; the industrial printhead driver solutions specialists, Meteor Inkjet; and the pre-press software specialists Xitron.
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