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
Pineapple Power Corporation Financial Statements For the Year Ended 31st December 2020
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.
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.
8 Battersea Park Road,
Peterhouse Capital Limited,
Axis Capital Markets Limited,
27 Clements Lane,
16 Great Queen Street,
auditors and reporting accountants
Share Registrars Limited,
17 West Street,
Surrey, GU9 7DR
public & investor relations
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%|
|Andrew Graham Holland||2,000,000||3.49%|
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.