13th Nov 2009 11:23
Independent News & Media PLC
ResultS of SECOND REQUISITIONED EGM
Dublin/London - 13th November, 2009: Independent News & Media PLC ("INM" or "the Company") today announces the results of voting at the Second Requisitioned Extraordinary General Meeting ("Second Requisitioned EGM") of the Company held on 13 November, 2009.
The resolution seeking to revoke the Directors' authority to allot and issue relevant securities, proposed by a nominee acting on behalf of Mr. Denis O'Brien, was defeated on a show of hands. The majority of proxies received (65.74%) were also against the resolution. This was in line with the Board's recommendation.
Commenting, Dr. Brian Hillery, Chairman, Independent News & Media said: "INM welcomes shareholders' decisive support at today's extraordinary general meeting. INM remains resolute in its focus to restore the Group to a secure and stable financial position in line with its consensual Restructuring Programme. The completion of the Restructuring is, subject amongst other things, to approval of the resolutions at the two extraordinary general meetings convened to be held on 26 November, 2009."
The full text of the resolution considered at the Second Requisitioned EGM was included in the notice of the Second Requisitioned Extraordinary General Meeting circulated to Shareholders on 5 October, 2009.
The proxy votes received in respect of the resolution at the Second Requisitioned EGM was as follows. This does not include the new ordinary shares which have been issued to Bondholders pursuant to the first step in implementation of the Restructuring on 11 November, 2009 (that is, the First Equity Issue which completed on 11 November, 2009). While these new ordinary shares were in issue as of the voting record time for the Second Requisitioned Extraordinary General Meeting, they were not voted by proxy and are not included in the proxy tallies.:-
|
Resolution |
Total |
For |
Against |
Vote withheld* |
|
Resolution 1 - |
657,563,226 |
224,745,887 (65.74%) |
431,120,563 (34.26%) |
1,696,776 |
*A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes for or against a resolution.
Defined terms used in this announcement have the same meaning as in the Prospectus issued by INM dated 11 November, 2009.
For further information, please contact:
Independent News & Media PLC
Gavin O'Reilly
Chief Executive Officer
Donal Buggy
Chief Financial Officer
Tel: + 353 1 466 3200
|
Media Pat Walsh Murray Consultants (Dublin) Tel: +353 1 498 0300 / 087 2269345 |
Rory Godson/ Paul Durman Powerscourt (London) Tel: +44 20 7250 1446 |
Investors and Analysts Mark Kenny/ Jonathan Neilan FD K Capital Source (Dublin) Tel: +353 1 663 3680 |
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Independent News & Media