Result of AGM

RNS Number : 9052F

International Public Partnership Ld

21 June 2012

 



THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION, RELEASE, OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN, OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL OR TO U.S. PERSONS. THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE INCLUDING IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA.

21 June 2012

INTERNATIONAL PUBLIC PARTNERSHIPS LIMITED

RESULT OF ANNUAL GENERAL MEETING (the "AGM")

International Public Partnerships Limited ("INPP" or the "Company") is pleased to announce that, at the AGM held at 2.45pm this afternoon, each of the Resolutions were duly passed without amendment.  

In accordance with LR 9.6.18, details of those resolutions passed, which were not ordinary business of the AGM, follow:-

Resolution	Votes For (including discretionary)		Votes Against		Votes Withheld*
9 - Special	221,854,295	(99.97%)	64,360	(0.03%)	24,705
10 - Special	211,521,459	(95.31%)	10,397,196	(4.69%)	24,705
11 - Special	221,022,707	(>99.99%)	6,601	(<0.01%)	914,052

*A vote withheld is not a vote in law and is therefore not counted towards the proportion of votes "for" or "against" the Resolution.

The full wording of these resolutions can be found below:-

Resolution 9

To approve that the Company generally be and is hereby authorised for the purposes of section 315 of the Companies (Guernsey) Law, 2008 as amended (the "Law") to make market acquisitions (as defined in the Law) of Ordinary Shares provided that:

a)    The maximum number of Ordinary Shares authorised to be purchased shall be 14.99 per cent. of the Ordinary Shares in issue immediately following this annual general meeting (excluding treasury shares);

b)    The minimum price (exclusive of expenses) which may be paid for such shares is £0.01 per Ordinary Share;

c)    The maximum price (exclusive of expenses) payable by the Company which may be paid for Ordinary Shares shall be the higher of (i) 5 per cent. above the average market value for the five business days before the purchase is made and (ii) the higher of the price of the last independent trade and the highest independent bid at the time of the purchase for any number of Ordinary Shares on the trading venue where the purchase price is carried out;

d)    The authority hereby conferred shall (unless previously renewed or revoked) expire at the end of the annual general meeting of the Company to be held in 2013 or, if earlier, the date falling eighteen months from the passing of this resolution;

e)    The Company may make a contract to purchase its own Ordinary Shares under the authority hereby conferred prior to the expiry of the above authority which will or may be executed wholly or partly after the expiry of such authority, and may make a purchase of its own Ordinary Shares in pursuance of any such contract; and

f)     any Ordinary Share acquired by the Company pursuant to the above authority may, subject to the requirements of the Law, be held as a treasury share in accordance with the Law or be cancelled by the Company.

Resolution 10

THAT the Directors of the Company from time to time (the "Board") be and are hereby generally empowered in accordance with Article 40(4) of the Articles (in substitution for any existing such power or authority other than pursuant to resolution 11) to allot up to: (i) the aggregate number of Ordinary Shares as represent less than 10 per cent. of the number of Ordinary Shares already admitted to trading on the London Stock Exchange's main market for listed securities immediately following the passing of this resolution and

(ii) such number of Ordinary Shares as may be agreed between the Company and the provider from time to time of investment advisory services to the Company (the "Investment Adviser") in lieu of a cash payment in respect of the Investment Adviser's entitlement to an incentive fee (if any) pursuant to the investment advisory agreement between the Company and the Investment Adviser prevailing at the time, in each case as if the pre-emption provisions contained in Article 40(1) of the Articles did not apply to any such allotment, provided that this power shall (unless previously revoked, varied or renewed by the Company) expire on the conclusion of the annual general meeting of the Company to be held in 2013, save that the Company may make prior to such expiry any offer or agreement which would or might require shares to be allotted after expiry of such period and the Board may allot Ordinary Shares pursuant to such an offer or agreement notwithstanding the expiry of the authority given by this resolution.

Resolution 11

THAT the Board be and are generally empowered in accordance with Article 40(4) of the Articles (in substitution for any existing such power or authority other than pursuant to resolution 10) to allot up to 232,258,065 Ordinary Shares for cash, as if the pre-emption provisions contained in Article 40(1) of the Articles did not apply to any such allotment, provided that:

a)      this power shall (unless previously revoked, varied or renewed by the Company) expire on the conclusion of the annual general meeting of the Company to be held in 2013, save that the Company may make prior to such expiry any offer or agreement which would or might require shares to be allotted after expiry of such period and the Board may allot shares pursuant to such an offer or agreement notwithstanding the expiry of the authority given by this resolution; and

b)      this power shall be limited to the allotment of ordinary shares of 0.01 pence each in the Company's capital in connection with the placing, open offer and offer for subscription (as such terms are defined in the prospectus issued by the Company dated 24 May 2012, a copy of which is produced to the meeting and initialled by the Chairman for the purposes of identification).

For further information:

Erica Sibree                                                       [phone]

Amber Fund Management Limited                                               

Nick Westlake/Hugh Jonathan                              [phone]/1263

Numis Securities           

Ed Berry/Harry Stein                                           [phone]/7141
FTI Consulting

About International Public Partnerships (INPP):

International Public Partnerships (INPP) is a listed infrastructure investment company which invests in global public infrastructure projects developed under the public private partnerships (PPP), private finance initiative (PFI) and other similar procurement methods.

Listed in 2006, INPP is a long-term investor in 119 social and transport infrastructure projects, including schools, hospitals, courts, police headquarters, transport and renewable energy projects in the U.K., Europe, Australia and Canada. INPP seeks to provide its shareholders with both a long-term government-backed yield and capital growth through investment across both construction and operational phases of 25-40 year concessions.

Amber Infrastructure Group (Amber) is the Investment Advisor to INPP and consists of more than 60 dedicated infrastructure specialists which originate and source a strong pipeline of projects for INPP.

Visit the INPP website at www.internationalpublicpartnerships.com for more information.

 

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