Result of AGM 13:15:56 25 Aug 2021 – PNPL News Article | London Stock Exchange https://www.londonstockexchange.com/news-article/PNPL/result-of-agm/15111779
investors
PNPL Annual Report and AGM documentation
Pineapple Power Corporation Financial Statements For the Year Ended 31st December 2020
The full Pineapple Power Corporation plc prospectus document can be viewed and downloaded using the following link
introduction
Pineapple Power Corporation PLC is a UK company formed as a special purpose acquisition company and is listed on the Standard segment of the UKLA’s Official List under Chapter 14 of the Listing Rules and trades on the London Stock Exchange’s Main Market.
The Company is headquartered in London, England and will seek to acquire renewable, clean energy companies internationally.
share price
shareholder information
Pineapple Power Corporation PLC is incorporated under the laws of England and Wales under the Companies Act 2006. The Company’s registered number is 09081452.
Pineapple Power Corporation PLC shares are traded on The Standard Segment of the London Stock Exchange Main Market.
The Pineapple Power Corporation PLC ticker code is PNPL.
As of December 23, 2020, the total issued share capital of the Company is 57,367,211 ordinary shares of £0.01 each.
No securities are held as treasury shares. The founding shareholders have voluntarily restricted their holdings of 13,500,200 shares for a period of two years or until an RTO transaction has been successfully completed and closed.
company advisors
Registered Office
Studio 16,
Cloisters House,
8 Battersea Park Road,
London,
SW8 4BG,
England.
corporate brokers
Peterhouse Capital Limited,
3rd Floor,
80 Cheapside,
London,
EC2V 6EE,
England.
Axis Capital Markets Limited,
27 Clements Lane,
London,
EC4N 7AE,
England.
legal advisors
Fladgate LLP,
16 Great Queen Street,
London,
WC2B 5DG,
England.
auditors and reporting accountants
PKF Littlejohn LLP
15 Westferry Circus
London E14 4HD
registrar
Share Registrars Limited,
The Courtyard,
17 West Street,
Farnham,
Surrey, GU9 7DR
public & investor relations
significant shareholders
As of 23 December 2020, as far as the Directors are aware, the following shareholders are Company Directors or interested in 3% or more of the issued share capital of the Company.
| Shareholder | Number of Ordinary Shares | Percentage of allotted share capital |
|---|---|---|
| Axis Capital Markets Limited* | 14,516,667 | 25.30% |
| IG Markets Limited* | 6,666,667 | 11.62% |
| Clear Capital Markets Limited* | 6,666,667 | 11.62% |
| Clive Michael Edward de Larrabeiti | 5,600,100 | 9.76% |
| Peter John Mills | 2.602,100 | 4.54% |
| Claudio Morandi | 2,000,000 | 3.49% |
| Andrew Graham Holland | 2,000,000 | 3.49% |
* Hold Ordinary Shares on behalf of third parties, none of whom hold more than 3% of the Allotted Share Capital.
corporate governance statement
As a
company with a Standard Listing, the Company is not required to comply with the
provisions of the UK Corporate Governance Code.
However, in the interests of observing best practice on corporate
governance, the Company intends to comply with the provisions of the UK
Corporate Governance Code insofar as is appropriate having regard to the size
and nature of the Company and the size and composition of the Board, except
that:
· given the size of the Board and the
Company’s current non-operational status, certain provisions of the UK
Corporate Governance Code (in particular the provisions relating to the
composition of the Board and the division of responsibilities between the
Chairman and chief executive and executive compensation), are not being
complied with by the Company as the Board considers these provisions to be
inapplicable to the Company;
· until an Acquisition is made the
Company will not have separate audit and risk, nomination or remuneration
committees. The Board as a whole will
instead review audit and risk matters, as well as the Board’s size, structure
and composition and the scale and structure of the Directors’ fees, taking into
account the interests of Shareholders and the performance of the Company, and
will take responsibility for the appointment of auditors and payment of their
audit fee, monitor and review the integrity of the Company’s financial
statements and take responsibility for any formal announcements on the
Company’s financial performance.
Following the completion of an Acquisition, the Board intends to put in
place audit and risk, nomination and remuneration committees;
· the UK Corporate Governance Code
recommends the submission of all directors for re-election at regular
intervals. None of the Directors will be
required to be submitted for re-election until the first annual general meeting
of the Company following an Acquisition.
Claudio Morandi was appointed and reappointed by resolutions of the
Shareholders passed on 20 January 2016 and 3 July 2020 respectively and Andrew
Holland was appointed by resolutions of the Shareholders passed on 3 July 2020,
and therefore, under the Articles and CA 2006, will not be required to submit
themselves for re-election at the next annual general meeting of the Company;
and
· the Board does not comply with the
provision of the UK Corporate Governance Code that at least half of the Board,
excluding the Chairman, should comprise non-executive directors determined by
the Board to be independent. In
addition, the Company has not appointed a senior independent director. The Company intends to appoint additional
independent non-executive directors following the Acquisition so that the Board
complies with these provisions.
The Company
will not seek Shareholder approval at a general meeting in respect of an
Acquisition, unless required to do so for the purposes of facilitating the
financing arrangements or for other legal or regulatory reasons.
