14th Sep 2010 11:12
14 September 2010
RAPID REALISATIONS FUND LIMITED
("Rapid" or "the Company")
Result of AGM
Rapid Realisations Fund Limited (AIM: RRF), announces that at its AGM held earlier today all resolutions were duly passed and the proxy votes were cast as follows:
|
|
Resolution |
For |
Against |
Withheld |
Discretionary |
||||
|
|
|
Total votes |
% |
Total votes |
% |
Total votes |
% |
Total votes |
% |
|
1 |
To receive and adopt the Directors' Report and Auditor's Report.
|
51,089,677 |
100 |
- |
|
- |
|
- |
|
|
2 |
To re-elect Brett Miller as a Director of the Company.
|
46,103,677 |
100 |
- |
|
4,986,000 |
|
- |
|
|
3 |
To re-elect Rhys Davies as a Director of the Company.
|
46,103,677 |
100 |
- |
|
4,986,000 |
|
- |
|
|
4 |
To re-elect David McHugh as a Director of the Company.
|
51,089,677 |
100 |
- |
|
- |
|
- |
|
|
5 |
To re-appoint KPMG Channel Island Limited as auditors of the Company.
|
51,089,677 |
100 |
- |
|
- |
|
- |
|
|
6 |
To authorise the directors to fix the remuneration of the auditor.
|
51,089,677 |
100 |
- |
|
- |
|
- |
|
|
7 |
To amend the investment objective and policy of the Company be amended to to manage the realisation of the Company's investment portfolio and to maximise the return of invested capital to Shareholders during the period ending on 30 September 2013.
|
51,089,677 |
100 |
- |
|
- |
|
- |
|
|
8 |
To authorise the Company to repurchase and cancel its own shares.
|
51,089,677 |
100 |
- |
|
- |
|
- |
|
|
9 |
To authorise the Capital Return Scheme. .
|
51,089,677 |
100 |
- |
|
- |
|
- |
|
|
10 |
To adopt the new articles of incorporation.
|
51,089,677 |
100 |
- |
|
- |
|
- |
|
As a result, the Board have resolved to implement the Capital Return Scheme immediately and will return to Shareholders 24p per Share by way of a bonus issue of B Shares to Shareholders on the Company's register on the record date of 14 September 2010. The Company's Shares will be marked ex-dividend on 15 September 2010.
Following their issue the B Shares will be immediately redeemed by the Company on a pro rata basis. The redemptions will have a settlement date of 28 September 2010.
Terms defined in the Circular dated 6 August shall have the same meaning when used in this announcement.
-ends-
Enquiries:
Philip Secrett
Grant Thornton Corporate Finance +44 (0) 20 7383 5100
Nominated Adviser
James Maxwell / Nick Donovan Singer Capital Markets Limited +44 (0)20 3205 7500
Broker
Related Shares:
RRF.L