At an Extraordinary General Meeting of the Board of Shareholders held in Leeds this morning. Shareholders agreed unanimously to support a rights issue worth £2.5 trillion. New shares will be released in Release Periods lasting two months with the first starting on the 15 September 2023.
Further information will be posted on the Investor Centre shortly.
Group CEO James van Houten made a statement following the meeting:
This rights issue will be the single largest rights issue in history and will assist the Group in fighting for its survival going forward. With this money, we will have physical outlets of SwishShop in every city in the United Kingdom and European Union by the end of 2024. SwishHost will have further expansion with more datacentres in major population centres and eventually more datacentres than any other provider in the world.