LONDON - Atrato Onsite Energy PLC announced today the approval of the company's voluntary liquidation following a general meeting vote. Shareholders are expected to receive a total of 80.2 pence per ordinary share, slightly above the previously estimated 80.0 pence. The company's ordinary shares were suspended from trading earlier today in anticipation of the meeting and will be delisted on December 16, 2024.
The resolution for the members' voluntary liquidation was passed almost unanimously, with 99.93% of votes in favor. Derek Neil Hyslop and Richard Peter Barker of Ernst & Young LLP have been appointed as joint liquidators. The company's ordinary shares were suspended from the Official List of the Financial Conduct Authority and the main market of the London Stock Exchange (LON:LSEG) as of the morning of the general meeting. The cancellation of the shares' listing and trading will take effect from 8.00 a.m. on December 16, 2024.
The liquidation process follows the disposal of company assets, with the net proceeds, known liabilities, service provider termination costs, estimated advisory and termination costs, and estimated net interest income all accounted for in the final shareholder distribution. In addition to the final distribution, shareholders received a post-disposal dividend of 1.98 pence per ordinary share.
An initial distribution of the net assets is anticipated to be made by the liquidators in late January or early February 2025, with an estimated value of no less than 77.0 pence per ordinary share.
This financial outcome is based on a press release statement and has been provided for informational purposes, reflecting the company's current expectations regarding the liquidation process and shareholder distributions.
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