15 November 2023
Northern Bear plc
("Northern Bear", the "Company" or, together with its subsidiaries, the "Group")
Result of General Meeting and Directorate Change
Northern Bear is pleased to announce that, at the General Meeting of the Company held today, the resolution to return up to £3.1 million by way of Tender Offer for up to 5,000,000 Ordinary Shares at a fixed price of 62 pence per Ordinary Share was duly passed by shareholders. The record date for the Tender Offer is 18:00 on 22 November 2023 and an announcement regarding the result of the Tender Offer is expected to be published on 29 November 2023 along with the Company's interim results for the half year to 30 September 2023.
The results of the proxy voting from the General Meeting are set out below:
| Resolution | For | % | Against | % | Vote Total (including votes withheld) | Vote Total as % of Issued Share Capital | Withheld* |
| 1. To authorise the Company to buy back its own shares. | 11,049,443 | 99.69 | 34,100 | 0.31 | 11,083,543 | 59.19 | Nil |
* Includes discretionary votes
** Excludes withheld votes
Following conclusion of the General Meeting and as set out in the Circular dated 23 October 2023, Jeff Baryshnik has resigned from his role as Non-Executive Chairman and as a director of the Company with immediate effect. The board would like to thank Jeff for his service as a director of the Company. Harry Samuel, one of the Company's current Non-Executive Directors, will assume the position of Interim Non-Executive Chairman until such time as the Board has identified and appointed a permanent successor.
Capitalised terms used but not otherwise defined in this announcement have the meaning given to them in the announcement issued by the Company on 23 October 2023.
For further information, please contact:
| Northern Bear PLC Harry Samuel - Interim Non-Executive Chairman Tom Hayes - Finance Director | +44 (0) 166 182 0369
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| Strand Hanson Limited (Nominated Adviser) James Harris James Bellman | +44 (0) 20 7409 3494 |
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Hybridan LLP (Nominated Broker) Clarie Louise Noyce | +44 (0) 20 3764 2341
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