AGM Statement 2011

RNS Number : 5774I

Graphite Enterprise Trust PLC

16 June 2011

 



GRAPHITE ENTERPRISE TRUST PLC ("the Company")

 

RESULTS OF ANNUAL GENERAL MEETING

 

16 JUNE 2011

 

The Company is pleased to announce that at the Annual General Meeting held on 15 June 2011 all resolutions were passed on a show of hands.

Resolutions 1 to 10 related to Ordinary Business.  Resolutions 11 to 13 related to Special Business, as set out below:

Resolution 11: To authorise the Directors to allot either new shares or shares held in treasury for cash, dis-applying pre-emption rights.

The Chairman noted at the Meeting that the Company would in practice only dis-apply pre-emption rights in respect of share issues representing up to 5% of the Company's current issued share capital.  In addition, shares would only be issued at a discount to net asset value as part of a transaction which was overall accretive to shareholders.

Resolution 12: To authorise the Directors pursuant to Section 701 of the Companies Act 2006 to make market purchases of up to 14.99% of the Company's own Ordinary shares.

Resolution 13: To allow the Company to call a General Meeting with not less than 14 days notice.

As previously announced, Sean O'Connor stepped down as a director of the Company at the conclusion of the meeting.

Copies of resolutions passed at the Annual General Meeting on 15 June 2011 concerning items other than ordinary business have been submitted to the National Storage Mechanism. These documents will shortly be available for inspection at www.Hemscott.com/nsm.do

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For further information please contact:

Colm Walsh   020 7825 5300

 

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