Result of EGM


 

TIDMNBPC 
 
RNS Number : 4288S 
Naya Bharat Property Company PLC 
09 September 2010 
 
09 September 2010 
                NAYA BHARAT PROPERTY COMPANY PLC (the "Company") 
                    RESULT OF EXTRAORDINARY GENERAL MEETING 
The Board of Naya Bharat Property Company plc announces that at the 
Extraordinary General Meeting of the Company held today, neither of the 
resolutions set out in the circular to shareholders dated 10 August 2010 was 
passed and the Company will continue. The results of the vote are summarised 
below. 
 
In light of the fact that the 75% majority of votes cast required to pass the 
resolutions was not achieved and the fact that less than 50% of shareholders 
voted in favour of winding up the Company, the Company will continue and the 
Directors and the Manager will actively consider further measures, including buy 
backs and tender offers, to manage the discount to net asset value at which the 
shares trade. 
 
It is likely that a further Extraordinary General Meeting will be called in the 
near future to renew the authority for the Company to buy back up to 15% of the 
Company's shares.  In addition, the Directors will continue to work closely with 
the Manager to expand the investor base by raising the profile and awareness of 
the Company with potential new long-term investors. 
 
Further to this announcement of the result of the Extraordinary General Meeting, 
the suspension of trading on AIM in the Company's shares will be lifted and 
trading restored immediately. 
 
Summary of Votes Cast 
Shareholders representing 22,368,325 Shares of the Company, voted in favour of 
special resolution one proposed and shareholders representing 10,555,322 Shares 
of the Company voted against special resolution one.   Shareholders representing 
22,368,325 Shares of the Company, voted in favour of special resolution two 
proposed and shareholders representing 10,555,322 Shares of the Company voted 
against special resolution two. 
 
 
Enquiries 
+--------------------------+----------------------------------+ 
| Charlemagne Capital      | 020 7518 2100                    | 
| Varda Lotan /            | marketing@charlemagnecapital.com | 
| Christopher Fitzwilliam  | www.charlemagnecapital.com       | 
| Lay                      |                                  | 
|                          |                                  | 
+--------------------------+----------------------------------+ 
| Panmure Gordon           | 020 7459 3600                    | 
| Hugh Morgan / Stuart     |                                  | 
| Gledhill                 |                                  | 
|                          |                                  | 
+--------------------------+----------------------------------+ 
| Smithfield Consultants   | 020 7360 4900                    | 
| John Kiely / Gemma       |                                  | 
| Froggatt                 |                                  | 
+--------------------------+----------------------------------+ 
 
www.nayabharat.org 
 
 
Disclaimer 
This document does not constitute an offer to sell or solicitation of an offer 
to buy shares in the Company and subscriptions for shares in the Company may 
only be made on the terms and subject to the conditions (and risk factors) 
contained in the prospectus of the Company.  Potential investors should 
carefully read the prospectus issued by the Company which contains significant 
additional information needed to evaluate an investment in the Company.  This 
document has not been approved by a competent supervisory authority and no 
supervisory authority has consented to the issue of this document.  The 
information in this document is confidential and it should not be distributed or 
passed on, directly or indirectly, by the recipient to any other person without 
the prior written consent of Charlemagne Capital (UK) Limited.  This document 
and shares in the Company shall not be distributed, offered or sold in any 
jurisdiction in which such distribution, offer or sale would be unlawful and 
until the requirements of such jurisdiction have been satisfied.  This document 
is not intended for public use or distribution.  The purchase of shares in the 
Company constitutes a high risk investment and investors may lose a substantial 
portion or even all of the money they invest in the Company.  An investment in 
the Company is, therefore, suitable only for financially sophisticated investors 
who are capable of evaluating the risks and merits of such investment and who 
have sufficient resources to bear any loss that might result from such 
investment.  If you are in any doubt about the contents of this document you 
should consult an independent financial adviser.  Investors in the Company 
should note that: past performance should not be seen as an indication of future 
performance; investments denominated in foreign currencies result in the risk of 
loss from currency movements as well as movements in the value, price or income 
derived from the investments themselves; and there are additional risks 
associated with investments (made directly or through investment vehicles which 
invest) in emerging or developing markets. Charlemagne Capital (UK) Limited does 
not guarantee the accuracy, adequacy or completeness of any information 
contained herein and is not responsible for any omissions or for the results 
obtained from such information.  The information is indicative only and is for 
background purposes and is subject to material updating, revision, amendment and 
verification.  All quoted returns are illustrative.  No representation or 
warranty, express or implied, is made as to the matters stated in this document 
and no liability whatsoever is accepted by Charlemagne Capital (UK) Limited or 
any other person in relation thereto. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 REGSSDFFUFSSESU
Naya Bharat (LSE:NBPC)
過去株価チャート
から 8 2024 まで 9 2024