21st Jul 2009 11:10
21 July 2009
PME African Infrastructure Opportunities plc
("PME" or "the Company")
(AIM: PMEA.L; PMEW.L)
Result of AGM
PME African Infrastructure Opportunities plc, the AIM listed fund investing in infrastructure projects across sub-Saharan Africa, announces the results of the votes on the resolutions proposed at the Annual General Meeting held earlier today.
1. To receive and adopt the Report of the Directors, the Auditors' Report and the Audited Consolidated Financial Statements of the Company for the financial year ended 31 December 2008. - Passed
2. To note that no dividend be declared payable in respect of the Company's ordinary shares. - Defeated
3. To reappoint the following director retiring by rotation: Lawrence Kearns. - Passed
4. To reappoint the following director retiring by rotation: Paul MacDonald. - Passed
5. To re-appoint PricewaterhouseCoopers, Isle of Man as Auditors of the Company for the year to 31 December 2009. - Passed
6. To renew the authority for the purchase of up to 14.99% of the Company's fully-paid, ordinary shares in issue at a price per share of no less than 1 cent and not more than $5.00 with an expiry date of the conclusion of the Company's third Annual General Meeting, or if earlier, on 31 August 2010. - Passed
Commenting on Resolution 6, David von Simson, Chairman, said, "The Board is committed to using its authority to buy back shares whenever it perceives this to be the best use of its available liquid funds. In the past financial year, 26,925,428 shares were repurchased and cancelled, amounting to 14.9% of the issued capital at that time. Shareholders should, however, note that the Company is in a "close period" until the release of its interim results, due out no later than 30 September 2009."
Further enquiries:
|
Smith & Williamson Corporate Finance Limited
|
Azhic Basirov |
+44 20 7131 4000 |
|
Fairfax I.S. PLC
|
James King |
+44 20 7598 5368 |
|
Bell Pottinger
|
Dan de Belder |
+44 20 7861 3232 |
|
On behalf of Helvetica (Isle of Man) Company Limited |
Clara Parisot |
+41 798 249 788 |
Notes to Editors:
- PME African Infrastructure Opportunities plc ('PME') is a company investing in sub-Saharan African infrastructure and infrastructure related industries. Its shares were admitted to AIM in July 2007 raising US$180.45 million.
- PME was established to invest in sub-Saharan African infrastructure and infrastructure related industries with a view to generating attractive returns, principally through capital growth. It is targeting opportunities arising from years of under investment in sub-Saharan African infrastructure where that infrastructure will be instrumental in allowing the continent's economic development to continue to grow.
- The Investment Manager is PME Infrastructure Managers Limited ('PMEIM'). The Investment Manager is responsible for identifying new investment opportunities.
- PMEIM is a joint venture between Principle Capital Holdings S.A. (AIM: PCX.L), Unicos Partners LLP (holding company of the Helvetica Group of companies), Masazane Capital (Pty) Limited and the interests of Richard Bouma, CEO of PMEIM.
Related Shares:
PMEA.L