Result of AGM

RNS Number : 7185E

Paddy Power plc

14 May 2013

 



14 May, 2013

Paddy Power plc

AGM results

Shareholders of Paddy Power Plc are informed that all resolutions proposed at the

Annual General Meeting of the Company held today, 14 May 2013, were duly

passed, including the following items of special business:

Resolution 9

"That the directors be and they are hereby generally and unconditionally authorised to exercise all the powers of the Company to allot relevant securities (within the meaning of Section 20 of the Companies (Amendment) Act 1983) up to an aggregate nominal amount of €1,695,224, representing approximately one third of the issued share capital of the Company at the date of the notice containing this resolution; provided that this authority shall expire at the close of business on the earlier of the date of the next Annual General Meeting of the Company or 13 November 2014 save that the Company may before such expiry make an offer or agreement which would or might require relevant securities to be allotted after such expiry and the directors may allot relevant securities in pursuance of such offer or agreement as if the authority hereby conferred had not expired."

Resolution 10

"That for the purposes of Regulation 8(d) of the Articles of the Association of the Company, the directors are hereby empowered to allot equity securities (as defined in Section 23 of the Companies (Amendment) Act 1983) for cash pursuant to and in accordance with the provisions of their authority pursuant to Section 20 of the Companies (Amendment) Act 1983 as if sub-section (1) of Section 23 of the Companies (Amendment) Act 1983 did not apply to any such allotment provided that, pursuant to Regulation 8(d)(ii), the maximum aggregate nominal value of shares to which this authority relates shall be an aggregate nominal value of €240,383 or five per cent of the Company's issued ordinary share capital at the close of business on the date on which this resolution shall be passed; and the authority hereby conferred shall expire at the close of business on the earlier of the date of the next Annual General Meeting of the Company or 13 November 2014 unless previously renewed, varied or revoked by the  Company in general meeting provided that the Company may make before such expiry an offer or agreement which would or might require equity securities to be allotted after such expiry and the directors may allot equity securities in pursuance of such an offer or agreement as if the authority hereby conferred had not expired."

Resolution 11

"That the Company and/ or any subsidiary (including a body corporate) of the Company be generally authorised to make market purchases or overseas market purchases (as defined by Section 212 of the Companies Act 1990) of shares of any class of the Company on such terms and conditions and in such manner as the directors may from time to time determine in accordance with and subject to the provisions of the Companies Act 1990 and to the restrictions and provisions set out in Regulation 46(a) of the Articles of Association of the Company and that the authority hereby conferred shall expire at the close of business on the earlier of the date of the next Annual General Meeting of the Company or 13 November 2014 unless, in any such case, previously renewed, varied or revoked by the Company in general meeting."

Resolution 12

"That the re-issue price range at which any treasury share (as defined in Section 209 of the Companies Act 1990) for the time being held by the Company, may be re-issued off market, shall be the price range set out in Article 46(b) of the Articles of Association of the Company; and the authority hereby conferred shall expire at the close of business on the earlier of the date of the next Annual General Meeting of the Company or 13 November 2014 unless, in any such case, previously renewed, varied or revoked in accordance with the provisions of Section 209 of the Companies Act 1990."

Resolution 13

"That the establishment of the Paddy Power 2013 Long Term Incentive Plan, the principal features of which are summarised in the Chairman's Letter dated 4 April 2013 which accompanies the notice convening the meeting, and the Rules of such plan, a copy of which is provided to the meeting and initialled by the Chairman for the purposes of identification, be and is hereby approved and adopted and the directors be authorised to:

(a)  do all acts and things which they may consider necessary or expedient to effectively implement such plan; and/or

(b)  establish plans in other jurisdictions similar in substance to such plan or modify such plan for the benefit of employees in Ireland and elsewhere subject to such changes as may be necessary or desirable to take account of Irish and overseas taxation, security laws or other legal requirements."

Enquiries:

Brian Moore

Deputy Company Secretary

[phone]

 

END

 

 

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