DTL Dexion Trading

TIDMDTL

RNS Number : 5160I

Dexion Trading Limited

15 June 2011

DEXION TRADING LIMITED (the "Company")

RESULT OF ANNUAL GENERAL MEETING

The Board of the Company is pleased to announce that all of the resolutions put to shareholders at the Annual General Meeting held on 15 June 2011 were passed. The details of each such resolution are as follows:

1. Ordinary Resolution

IT WAS RESOLVED that the Financial Statements of the Company for the year ended 31 December 2010 with the Report of the Directors and Auditors thereon be received and adopted.

In Favour - 43,806,300 (78.401%)

Against - 12,068,422 (21.599%)

2. Ordinary Resolution

IT WAS RESOLVED that the appointment of KPMG Channel Islands Limited as Auditors of the Company for the year ending 31 December 2011 together with the fixing of their remuneration by the Directors for that period be and is hereby approved and ratified.

In Favour - 55,874,722 (100.000%)

Against - 0 (0.000%)

3. Ordinary Resolution

IT WAS RESOLVED that Ms Carol Goodwin be re-elected as a Director.

In Favour - 55,874,722 (100.000%)

Against - 0 (0.000%)

4. Ordinary Resolution

IT WAS RESOLVED that Mr Robin Bowie be re-elected as a Director.

In Favour - 51,329,674 (91.908%)

Against - 4,519,050 (8.092%)

5. Ordinary Resolution

IT WAS RESOLVED that the Directors be and are hereby authorised to allot Ordinary Shares and/or C Shares of any currency class ("Relevant Securities") as if article 6 of the Company's Articles did not apply to any such allotment PROVIDED THAT this power shall be limited to the allotment of Relevant Securities of each currency class (or in the case of C Shares which would, on conversion, on the basis of the net asset value of a Correspondent Share (as defined in the Company's Articles) as at a date determined by the Directors for the purpose and assuming such expenses of issue as the Directors may determine, convert into) up to 10% of the number of the same class of Ordinary Shares in issue as at the date of this resolution or, where there are no Ordinary Shares of that currency class then in issue, up to 10% of the aggregate number of Ordinary Shares in issue at the date of this resolution (and for all purposes of calculating the number of Ordinary Shares in issue, Ordinary Shares held in treasury shall be excluded) and PROVIDED THAT this power shall expire on the earlier of (i) the date which is 18 months after the date of this resolution and (ii) the conclusion of the next Annual General Meeting of the Company after the passing of this resolution save that (a) the Directors may before such expiry make an offer or agreement which would or might require Relevant Securities to be allotted after such expiry and the Directors may allot Relevant Securities in pursuance of such an offer or agreement as if the power conferred hereby had not expired and (b) the limitation on this power shall not apply to Relevant Securities allotted on conversion of or in substitution for other Relevant Securities already in issue.

In Favour - 48,652,532 (87.074%)

Against - 7,222,190 (12.926%)

6. Ordinary Resolution

IT WAS RESOLVED that the Company be and is hereby authorised in accordance with section 315 of The Companies (Guernsey) Law, 2008 to make market purchases of Ordinary Shares in the Company ("Market Purchases") provided that:

(a) The maximum number of Ordinary Shares authorised to be purchased is 14.99% of the issued Ordinary Shares of each currency class in issue (excluding Ordinary Shares of that class held in treasury) as at the date of the Annual General Meeting;

(b) The minimum price to be paid for Market Purchases for each Ordinary Share is 1 pence and the maximum price to be paid for Market Purchases is the higher of (i) 5% above the average of the mid-market values of the Ordinary Shares of that class for the 5 business days before the purchase is made and (ii) the higher of the price of the last independent trade and highest current bid as stipulated by Article 5(1) of Commission Regulation (EC) 22 December 2003 implementing the Market Abuse Directive as regards exemptions for buyback programmes and stabilisation of financial investments (No. 2233/2003) and otherwise in accordance with The Companies (Guernsey) Law 2008; and

(c) Such authorities shall expire at the earlier of 14 December 2012 or the conclusion of the Company's annual general meeting in 2012.

In Favour - 55,195,751 (98.932%)

Against - 595,824 (1.068%)

Enquiries:

 
 Chris Copperwaite                    Tel: +44 (0)1481 732815 
  Dexion Capital (Guernsey) Limited 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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