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Result of AGM

24th May 2011 12:00

RNS Number : 1724H
Better Capital Limited
24 May 2011
 



24 May 2011

 

Better Capital Limited

(the "Company")

Results of AGM

The Company is pleased to announce that at the AGM held earlier today, each of the Resolutions was duly passed without amendment.

 

In accordance with LR 9.6.18, details of those resolutions passed, which were not ordinary business of the AGM, follow:-

 

Resolution

Votes For (including discretionary)

Votes Against

Votes Withheld*

9 - Ordinary

166,754,462 (80.6%)

0

7,260,567 (3.5%)

10 - Special

174,015,029 (84.2%)

0

0

 

*A vote withheld is not a vote in law and is therefore not counted towards the proportion of votes "for" or "against" the Resolution.

 

The full wording of these resolutions can be found below:-

 

Resolution 9 - Ordinary Resolution

To approve, as special business which will be proposed as an Ordinary Resolution, that the Company generally be and is hereby authorised for the purposes of the Companies (Guernsey) Law, 2008 as amended (the "Law") to make market acquisitions (as defined in the Law) of the ordinary shares in the capital of the Company of nil par value each (the "Ordinary Shares") provided that:-

a. The maximum number of Ordinary Shares authorised to be purchased shall be 15 per cent. of the Company's issued Ordinary Shares immediately following this annual general meeting;

b. The minimum price (exclusive of expenses) which may be paid for such shares is £0.01 per Ordinary Share;

c. The maximum price (exclusive of expenses) payable by the Company which may be paid for Ordinary Shares shall be equal to 105 per cent. of the average of the middle market quotations for the Ordinary Shares as derived from the daily Official List of the London Stock Exchange for the five business days immediately preceding the day on which the purchase is made;

d. The authority hereby conferred shall (unless previously renewed or revoked) expire at the end of the annual general meeting of the Company to be held in 2012 or, if earlier, the date falling eighteen months from the passing of these resolutions;

e. The Company may make a contract to purchase its own Ordinary Shares under that authority hereby conferred prior to the expiry of such authority which will or may be executed wholly or partly after the expiry of such authority, and may make a purchase of its own Ordinary Shares in pursuance of any such contract; and

f. The purchase price may be paid by the Company out of distributable profits or out of capital and share premium or otherwise to the fullest extent permitted by the Law.

 

Resolution 10 - Special Resolution

To approve, as special business which will be proposed as a Special Resolution, THAT the Directors of the Company from time to time (the "Board") be and are hereby generally empowered in accordance with the Company's Articles (in substitution for any existing such power or authority) to allot up to: (i) the aggregate number of Ordinary Shares (within the meaning given in the Articles) as represent no more than 5 per cent. of the existing issued share capital of the Company already admitted to trading on the London Stock Exchange's main market for listed securities immediately following this annual general meeting; and (ii) in any rolling three-year period, such number of Ordinary Shares as constitutes no more than 7.5 per cent. of the existing issued share capital of the Company already admitted to trading on the London Stock Exchange's main market for listed securities immediately following this annual general meeting:-

a. This power shall (unless previously revoked, varied or renewed by the Company) expire on the conclusion of the annual general meeting of the Company to be held in 2012, save that the Company may make prior to such expiry any offer or agreement which would or might require shares to be allotted after expiry of such period and the Board may allot shares pursuant to such an offer or agreement notwithstanding the expiry of the authority given by this resolution; and

b. This power shall be limited to the allotment of Ordinary Shares of nil par value each in the Company's capital.

 

Enquiries:

Better Capital Limited +44 (0)1481 716 000

Mark Huntley (Director)

Laurence McNairn (Administrator and Company Secretary)

 

Numis Securities Limited (Corporate Broker & Financial Adviser) +44 (0)20 7260 1000

Nathan Brown

Simon Blank

 

Powerscourt (Public Relations Adviser) +44 (0) 20 7250 1446

Roderick Cameron

Rory Godson

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
RAGUSAKRAVAVURR

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