24th Nov 2015 12:52
LADBROKES PLC
Result of General Meeting
On 24 July 2015, Ladbrokes plc (the "Company") announced that it had agreed the terms of a recommended merger of the Company with certain businesses of Gala Coral Group Limited ("Gala Coral"), including Coral Retail, Eurobet Retail and Gala Coral's online businesses to create Ladbrokes Coral plc (the "Proposed Merger").
The Company announces that the following ordinary resolutions were duly passed on a poll at the Company's General Meeting which was held on 24 November 2015 at The Brewery, 52 Chiswell Street, London EC1Y 4SD.
The results of the poll are as follows:
Resolution | Total For | Total Against | Votes Withheld(1) | |||
No. of votes | % of votes | No. of votes | % of votes | No. of votes | ||
1. | To approve the merger between the Company and certain businesses of Gala Coral | 765,895,851 | 96.36 | 28,966,040 | 3.64 | 3,387,452 |
2. | To authorise the directors to allot shares | 765,683,127 | 96.34 | 29,049,169 | 3.66 | 3,514,850 |
3. | To approve the waiver granted by the Takeover Panel in respect of a mandatory offer obligation arising upon the issue of shares at completion of the merger(2) | 656,658,468 | 94.33 | 39,480,807 | 5.67 | 3,523,825 |
4. | To approve the waiver granted by the Takeover Panel in respect of a mandatory offer obligation arising after a buyback of shares by the Company(2) | 656,647,329 | 94.32 | 39,532,079 | 5.68 | 3,484,143 |
(1) A 'vote withheld' is not a vote in law and is not counted in the calculation of votes 'For' or 'Against' a resolution.
(2) For resolutions 3 and 4, the votes lodged in relation to the Ladbrokes Shares held by Playtech plc, who are not considered to be an independent shareholder of the Company, have been excluded in the calculation of the votes for and against each of resolutions 3 and 4.
As at 24 November 2015, the issued share capital of the Company was 1,018,223,428 ordinary shares of 28⅓ pence each (excluding shares held in treasury).
Completion of the Proposed Merger remains subject to the satisfaction or waiver of certain other conditions (as set out in the Circular), including (i) CMA approval, and (ii) Admission.
Capitalised terms used in this announcement have the meanings given to them in the shareholder circular published by the Company in connection with the Proposed Merger, dated 30 October 2015.
In accordance with Listing Rule 9.6.2, copies of the resolutions passed will today be submitted to the National Storage Mechanism and will be available for viewing at www.Hemscott.com/nsm.do.
The results will also be made available today on the Company's website at www.ladbrokesplc.com/generalmeetings.
Adrian Bushnell
Company Secretary
Related Shares:
Ladbrokes Coral