7th Apr 2005 07:01
Heron Corporation07 April 2005 Heron to vote against two resolutions at the Crest Nicholson AGM Heron Corporation announces that it intends to vote against two resolutions,which will be put to shareholders at the AGM of Crest Nicholson, to be held atnoon tomorrow, Friday 8th April. The two resolutions are: • Resolution 7 through which the board of Crest Nicholson will seek torenew for one year their power to grant new shares for cash up to an amountequal to 5% of the company's issued shares without having to give existingshareholders the right to take up such shares. • Resolution 8 through which the board of Crest Nicholson will seek theauthority to buy back up to 5% of the issued shares of Crest Nicholson. Heron believes that the board of Crest Nicholson should not be granted suchpowers as they could be used to change the present shareholder structure. Heronacknowledges that these powers may not be unusual in a different context butdoes not believe they are appropriate for the board of Crest Nicholson at thistime. Heron also takes the opportunity to once again urge the shareholders of CrestNicholson to encourage the board of Crest Nicholson to allow Heron access toinformation in order that shareholders may be given the opportunity to consideron its merits a possible cash offer for their shares from Heron. As Heron has not been given access by the board of Crest Nicholson toinformation on Crest Nicholson which Heron requires, there can be no certaintythat an offer will be made nor as to the terms on which any offer will be made For further information: Richard Evans / Tom NuttThe Communication Group plcTel. 020 7630 1411 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Crest Nicholson