11th Dec 2008 09:41
TGE Marine AG ("TGE" or the "Company")
RESULT OF ANNUAL GENERAL MEETING
The Board of TGE announces that, following the Company's Annual General Meeting ("AGM") held yesterday, all resolutions, with the exception of Resolutions 7, 8 and 9 (in respect of the proposed 19 for 1 bonus issue), were duly passed by a substantial majority of shareholders voting in favour of the proposals set out in the Notice of AGM dated 31 October 2008.
Resolution 7 (in relation to the increase of the Company's share capital from the Company's own resources and issue of bonus shares), Resolution 8 (amendment of the Company's articles resulting from the capital increase) and Resolution 9 (in relation to the proportionate increase in authorised capital) were not tabled at the AGM as the proposed bonus issue is no longer allowable under the German Stock Corporations Act (Aktiengesetz, AktG) as a result of the recent decline in the Company's share price. These resolutions were therefore not subject to a shareholder vote at yesterday's AGM and consequently the proposed 19 for 1 bonus issue will not be undertaken by the Company. The board will continue to review how a share split may be achieved and update the market at an appropriate time.
Enquiries:
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TGE Marine AG |
+49 (0)228 604 480 |
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Roland Fisher, Chief Financial Officer |
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Singer Capital Markets Limited |
+44 (0)20 3205 7500 |
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Jos Trusted |
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James Maxwell |
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Pelham Public Relations |
+44(0)20 7743 6676 |
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Mark Antelme |
Related Shares:
Generation Ess.