13th Jul 2012 10:34
13 July 2012 TEP EXCHANGE GROUP PLC ("TEP" or "the Company") Results of AGM and GM and Capital Reduction
The directors are pleased to announce that at the Annual General Meeting and General Meeting held earlier today, all resolutions proposed were duly passed.
The circular to shareholders dated 20 June 2012 (the "Circular") contained details of a conditional capital reduction by way of cancellation of its Deferred Shares and cancellation of its share premium account in order to effect dividend payments to members.
The Capital Reduction remains subject to Court Order approval. The original timetable announced on 20 June 2012 envisaged that the First Directions Hearing would be on 16 July 2012. This hearing, however, has been delayed until 26 July 2012 Accordingly the revised timetable for the Capital Reduction is as follows:
First Directions Hearing 26 July 2012 Court Hearing to confirm the Capital 8 August 2012Reduction Effective Date for the Capital 9 August 2012Reduction
Following Court approval, the Company intends pay an interim dividend of 0.03p per Ordinary Share in due course.
Definitions used in this announcement shall have the same meaning as given inthe Circular.Further enquiries:TEP Exchange Group plc David Roxburgh 00 353 87 2431 665 Merchant Securities Limited Simon Clements/Virginia Bull 020 7628 2200
XLONRelated Shares:
Doriemus