TIDMAVS
RNS Number : 2555Y
Avesco Group PLC
22 January 2014
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART
IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT
JURISDICTION
22 January 2014
AVESCO GROUP PLC
("AVESCO" OR THE "COMPANY")
RETURN OF CASH TO SHAREHOLDERS
and
APPROVAL OF SHARE BUY-BACK
RESULTS OF GENERAL MEETING
The Company announces that at its General Meeting held at 11.00
a.m. today, 22 January 2014, the resolutions set out in the
circular published by the Company on 27 December 2013 in relation
to the B/C Share Scheme and the Share Buy-Back (the Circular) were
duly passed on a show of hands. The proxy votes lodged in advance
of the General Meeting were as follows:
Resolution to approve the B/C Share Scheme:
Number of votes 19,626,193
---------------------------------- -----------
For (including discretionary): 19,626,193
---------------------------------- -----------
Against: 0
---------------------------------- -----------
Withheld: 0
---------------------------------- -----------
Total Votes (excluding withheld) 19,626,193
---------------------------------- -----------
Resolution to approve the Share Buy-back
Number of votes 19,626,193
---------------------------------- -----------
For (including discretionary): 11,839,396
---------------------------------- -----------
Against: 341
---------------------------------- -----------
Withheld: 7,786,456
---------------------------------- -----------
Total Votes (excluding withheld) 11,839,737
---------------------------------- -----------
Accordingly, Shareholders have approved the return of 110 pence
per Ordinary Share to Shareholders by way of the B/C Share Scheme,
in accordance with the terms and conditions set out in the
Circular, and the terms of the contract in connection with the
Share Buy-Back.
Elections
Shareholders are reminded that the election deadline under the
B/C Share Scheme is tomorrow, 23 January 2014, at 1.00 p.m.
The procedure for making elections under the B/C Share Scheme
depends on whether your Ordinary Shares are held in certificated or
uncertificated form. Shareholders may elect for any combination of
the Options in respect of their total holding of Ordinary Shares as
at 5.00 p.m. on 23 January 2014.
Certificated Shareholders
If you are a Certificated Shareholder and you wish to elect for
the Capital Option in respect of SOME or ALL of your B/C Share
Entitlement, you should complete and return the Form of Election
sent to you with the Circular, in accordance with the instructions
printed thereon, as soon as possible by post using the reply-paid
envelope provided (for use in the UK only) or (during normal
business hours only) by hand but, in any event so as to be received
by Capita Asset Services at Corporate Actions, 34 Beckenham Road,
Beckenham BR3 4TU by no later than 1.00 p.m. on 23 January
2014.
If you wish to elect for the Income Option in respect of ALL of
your B/C Share Entitlement, you should not take any action at
all.
If you do not complete and return a valid Form of Election by
1.00 p.m. on 23 January 2014, you will be deemed to have elected
for the Income Option in respect of ALL of your B/C Share
Entitlement.
Full details on how to complete and return the Form of Election
are set out in section 1 of Part IV of the Circular.
Uncertificated Shareholders
If you are an Uncertificated Shareholder and you wish to elect
for the Capital Option in respect of SOME or ALL of your B/C Share
Entitlement, you must give a valid TTE Instruction through CREST
which must settle by no later than 1.00 p.m. on 23 January
2014.
If your TTE Instruction does not settle by 1.00 p.m. on 23
January 2014, you will be deemed to have elected for the Income
Option in respect of ALL of your B/C Share Entitlement.
If you wish to elect for the Income Option in respect of ALL of
your B/C Share Entitlement, you should not take any action at
all.
Full details on how to make an election through CREST are set
out in section 2 of Part IV of the Circular. The CREST Manual may
also assist you in giving a TTE Instruction.
Notification of results of elections under the B/C Share
Scheme
An announcement regarding the results of Shareholders' elections
in relation to the B/C Share Scheme is expected to be made on 24
January 2014, after the Election Deadline has expired.
Unless the context otherwise requires, capitalised terms used in
this announcement shall have the same meaning ascribed to them in
the Circular.
Enquiries
For further information please contact:
Avesco Group plc
Richard Murray, Chairman
John Christmas, Group Finance
Director 01293 583400
finnCap
Julian Blunt/Ed Frisby, Corporate
Finance
Brian Patient/Victoria Bates,
Corporate Broking 020 7220 0500
Important information
Unless otherwise stated, references to time contained in this
announcement are to London time.
This announcement is for informational purposes only and does
not constitute an invitation to participate in the B/C Share Scheme
in or from any jurisdiction in or from which, or to or from whom,
it is unlawful to make such offer under applicable securities laws
or otherwise.
No application has been, or will be, made to any investment
exchange or trading platform for listing or admission to trading of
the B Shares, C Shares or Deferred Shares to be issued under the
B/C Share Scheme.
None of the B Shares, C Shares or Deferred Shares have been or
will be registered under the United States Securities Act of 1933
(as amended) (the "US Securities Act") or the state securities laws
of the United States and none of them may be offered or sold in the
United States unless pursuant to a transaction that has been
registered under the US Securities Act and the relevant state
securities laws or a transaction that is not subject to the
registration requirements of the US Securities Act and the state
securities laws, either due to an exemption therefrom or otherwise.
There will be no public offering of securities in the United
States.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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