24th Feb 2006 07:00
Dawnay, Day Treveria PLC24 February 2006 24 February 2006 Dawnay, Day Treveria PLC - Notice of AGM Proposes cancellation of part of the share premium account As indicated in its admission document, dated 9 December 2005, Dawnay, DayTreveria PLC ("Treveria" or the "Company") announces that it proposes to cancel20% of the Company's share premium account arising on the issue of OrdinaryShares, to create a distributable reserve (the "Cancellation"). The Cancellationwill increase the distributable reserves of the Company by €87,991,255. The Cancellation will not become effective until shareholder approval has beenobtained and the reduction has been confirmed by the High Court of Justice ofthe Isle of Man (the "Court"). It is currently expected that the Court'ssanction of the Cancellation of part of the share premium account will be soughtat a hearing to be held within 14 days after the AGM, referred to below. As stated in its admission document, Treveria's target dividend payout ratio is85% of the consolidated profits after tax of the Group (adjusted to excludeprofits and losses on the disposals of assets, exceptional items, revaluation gains and losses and accrued B Share Payments). In order for the Company to pay a dividend prior to the profits being generated by the Group's investment portfolio, distributable reserves must be created by means of the Cancellation of 20% of the share premium account. Implementation of the proposal requires the passing by shareholders of theSpecial Resolution to be proposed at the AGM which has been convened for 11.00a.m. on 21 March 2006. The AGM will be held at the registered office of theCompany at St James's Chambers, Athol Street, Douglas, Isle of Man IM1 1JE. Enquiries: Dawnay, Day Treveria Real KC Wong 020 7834 8060Estate Asset Management Robert Goldsmith Limited www.dawnaydaytreveria.com Cardew Group Tim Robertson 020 7930 0777 Shan Shan Willenbrock Catherine Maitland This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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