15th Jul 2014 11:33
15 July 2014
Future plc ("Future", the "Company")
Result of General Meeting
The Board of Future is pleased to announce that at the Company's General Meeting held today at 11.00am, the following resolutions, as proposed in the Notice of General Meeting and put to the shareholders at the General Meeting, were duly passed:
· The ordinary resolution to approve the disposal of a portfolio comprising the Sport titles and the Craft titles to Immediate Media Company Bristol Limited for the sum of up to £24m (the "Disposal")
· The special resolution to approve the transfer of the Company's listing category on the Official List of the UK Listing Authority and on the Main Market of the London Stock Exchange from a premium listing (commercial company) to a standard listing (shares) (the "Transfer of Listing").
The expected completion date of the Disposal is 21 July 2014. Following shareholder approval, the Company will submit its application for the Transfer of Listing to the UK Listing Authority shortly. Accordingly, the Company expects the Transfer of Listing to take effect on or around 13 August 2014.
The voting results were as detailed below:
Resolutions | For | Against | Withheld | |||||
Number of votes | % | Number of votes | % | Number of votes | ||||
1. To approve the terms of the Disposal and the authorisation of the Directors to do or procure to be done all such acts to give effect to the Disposal | 250,840,246 | 99.99 | 10,318 | 0.00 | 50 | |||
2. To approve the proposed Transfer of Listing and the authorisation of the Directors to do or procure to be done all such acts to give effect to the Transfer of Listing | 190,149,648 | 85.66 | 31,806,110 | 14.33 | 28,892,606 |
[1] Votes withheld are not votes in law and are not counted in the calculation of the proportion of the votes for and against a resolution.
The total number of voting rights as at 14 July 2014 was 333,779,909
An explanatory circular was submitted to the National Storage Mechanism (the "NSM") on 26 June 2014 and is available for inspection at http://www.morningstar.co.uk/uk/nsm and on the Company's website at http://www.futureplc.com/investors (along with the Notice of General Meeting). In accordance with Listing Rule 9.6.2, copies of all resolutions passed will be submitted to the NSM and will be available for inspection at www.morningstar.co.uk/uk/nsm in due course.
Enquiries
Future plc | +44 (0) 20 7042 4000 |
Zillah Byng-Maddick, Chief Executive | |
Numis Securities Limited (Financial adviser, sponsor and broker to Future) | +44 (0) 20 7260 1000 |
Lorna Tilbian / Nick Westlake / Mark Lander | |
Related Shares:
Future