Company Announcements

4 September 2024

Logistics Development Group plc

("LDG" or the "Company")

General Meeting Requisition Notice

Logistics Development Group plc, the AIM-quoted investing company, announces that it has received a requisition notice ("Notice") dated 2 September 2024 from Huntress (CI) Nominees Limited a/c KGRIG, in respect of 35,972,566 ordinary shares, representing approximately 6.86% of the Company's issued ordinary shares, requesting the Company's board of directors (the "Board") to convene a general meeting ("Requisitioned GM") under section 303 of the Companies Act 2006, as amended (the "Act").

A further announcement will be made in due course once the Board has considered the Notice and the proposed resolutions. In the meantime, the Board advises shareholders to take no action at this stage.

The Notice sets out three resolutions to be proposed at the Requisitioned GM, which are set out below. 

Proposed Resolution 1: That the investing policy be amended to read as follows: "The Company will cease making new investments and prioritise the timely return of capital to shareholders. The Company will seek to protect value and deliver an orderly realisation of illiquid investments. The Company will apply available cash balances and liquid investments to support the return of capital to shareholders in a timely and efficient manner. The Company will rationalise operating expenses as far as practical to maximise free cash available for distribution to shareholders."

Proposed Resolution 2: That the Company shall not, whether by act or omission, make material changes, renewals, or extensions to the Investment Management Agreement without prior to approval by an ordinary resolution of the Independent Shareholders (Capitalised terms as defined in the Company circular dated 13 August 2024).

Proposed Resolution 3: That James Ede-Golightly be appointed a director of the Company.

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