26th Jun 2007 17:04
Newcourt Group plc ('Newcourt' or the 'Company') (LSE:NEW)(ISE:NEW), a leading, Irish based, support services group, todayannounced that a circular has been sent today to shareholders toconvene an Extraordinary General Meeting (EGM) of the Company. Thepurpose of the EGM is to seek shareholder approval to increase theauthorised share capital of the Company and to increase itsauthorities. £ A summary of a statement by Newcourt Chairman, James Osborne,contained in the Circular is set out below:- £ "Since its foundation in 2002, Newcourt has developed and grown bymeans of a number of strategic acquisitions in the outsourced servicesand recruitment sectors, coupled with strong organic growth within theunderlying businesses that it has bought. £ We are currently reviewing a number of acquisition opportunitiesin Ireland and the UK, some of which are large relative to Newcourt'sexisting market value. In order to avail of these opportunities, andothers that may arise, we may need to raise additional capital orissue shares as consideration at short notice. The currentauthorisations and limitations may be insufficient for these purposesand the time required to increase them could put us at a competitivedisadvantage. Having given this matter careful consideration, yourboard has decided to seek shareholder approval for certain amendmentsto the necessary authorisations in advance to enable us to movequickly when required. £ Shareholders should note that the board does not intend toexercise the new authorities unless in the context of significantacquisitions of the kind contemplated above. £ Your Directors consider that it is in the interests of the Companyto pass the resolutions set out in the Notice of Extraordinary GeneralMeeting. Your Directors intend to vote in favour of the resolutions inrespect of their own beneficial shareholdings which together amount to8,474,467 ordinary shares representing approximately 9.9% of theexisting issued share capital of the Company." £ The EGM will be held at the offices of A&L Goodbody, InternationalFinancial Services Centre, North Wall Quay, Dublin 1 on Thursday 19July 2007 at 9.30 am to seek shareholder approval to increase theCompany's authorised share capital and its authority to issue andallot shares. Copies of the circular are available from A&L Goodbody,International Financial Services Centre, North Wall Quay, Dublin 1. £ Newcourt also announces that it has issued 319,543 ordinary sharesat EUR 1.662 each, amounting to EUR 531,080, as part of the deferredconsideration payable for the acquisition of Ecom Interaction ServicesLimited in May 2006. £ Application will be made for the new ordinary shares to beadmitted to trading on the IEX market of the Irish Stock Exchange andthe AIM market of the London Stock Exchange. £ About Newcourt Group plc £ Newcourt is a leading provider of support services, employing over2,700 staff throughout the island of Ireland. The Group has twoprimary operating divisions: Support Services & Student Accommodationand Recruitment & Aviation Outsourcing. £ Contacts \* TDamien Murray Mark Kenny/Jonathan Neilan Newcourt Group K Capital Source Tel: +353 1 668 8242 Tel: +353 1 631 5500 Email:[email protected]\* T Copyright Business Wire 2007Related Shares:
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