20th Oct 2009 07:00
RiskMetrics Recommends Shareholders
Vote AGAINST EGM Resolutions
Leading Proxy Advisor Supports
INM's Recommendation to Shareholders
Dublin/London - 19 October, 2009: Independent News & Media PLC ("INM" or the "Company") today announces that RiskMetrics Group, the world's leading independent proxy advisory firm, recommends that shareholders vote in line with INM's recommendation and AGAINST the two resolutions being put to the Extraordinary General Meeting (EGM) on Tuesday, 3 November, 2009.
EGM Resolutions
The resolutions being put to shareholders at the EGM, together with INM's voting recommendations, are set out below:
The Board is wholly satisfied with, and continues to endorse fully, Dr. Hillery as INM's Chairman. The Board does not, therefore, believe that the removal of Dr. Hillery from the Board is in the best interests of the Company and the Shareholders as a whole at this time and urges Shareholders to vote AGAINST Resolution 1.
The INM Board is also wholly satisfied with, and continues to endorse fully, Baroness Jay as INM's Senior Independent Director. The Board does not, therefore, believe that the removal of Baroness Jay from the position of Senior Independent Director of the Company is in the best interests of the Company and the Shareholders as a whole at this time and urges Shareholders to vote AGAINST Resolution 2.
Full details of the two resolutions and INM's recommendations are set out in the Notice of Meeting posted to all shareholders and which is also available on the INM website www.inmplc.com
For further information, please contact:
|
Media Pat Walsh Murray Consultants (Dublin) Tel: +353 1 498 0300 |
Rory Godson/ Paul Durman Powerscourt (London) Tel: +44 20 7250 1446 |
Investors and Analysts Mark Kenny/ Jonathan Neilan FD K Capital Source (Dublin) Tel: +353 1 663 3680 |
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