Result of AGM

RNS Number : 0738A

International Public Partnership Ld

02 June 2016

 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION, RELEASE, OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN, OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY JURISDICTION IN WHICH THE SAME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.

2 June 2016

International Public Partnerships Limited

Result Of Annual General Meeting ("AGM")

International Public Partnerships Limited ("INPP" or the "Company") is pleased to announce that, at the AGM held at 10.00 am this morning, each of the Resolutions were duly passed without amendment.  

The proxy votes received by the Company prior to the AGM were as follows:

Resolution		Votes For (including discretionary)		Votes Against		Votes Withheld*
1	Ordinary	329,644,739	99.98%	70,538	0.02%	0
2	Ordinary	327,052,996	99.96%	145,190	0.04%	2,517,090
3	Ordinary	329,701,285	99.99%	12,104	0.01%	1,889
4	Ordinary	329,600,863	99.97%	112,525	0.03%	1,889
5	Ordinary	329,700,434	99.99%	12,955	0.01%	1,889
6	Ordinary	323,089,820	97.99%	6,623,568	2.01%	1,889
7	Ordinary	329,715,278	100.00%	0	0%	0
8	Ordinary	327,472,017	99.99%	5,943	0.01%	2,237,317
9	Ordinary	329,712,861	99.99%	2,417	0.01%	0
10	Ordinary	329,706,424	99.99%	8,744	0.01%	110
11	Special	329,692,170	99.99%	22,998	0.01%	110
12	Special	329,697,833	99.99%	17,335	0.01%	110
13	Special	313,119,741	94.98%	16,564,052	5.02%	31,485
14	Special	309,136,293	93.77%	20,544,973	6.23%	34,012

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

In accordance with LR 9.6.18, details of those resolutions passed at the AGM that were not in the ordinary course of business are detailed below.

Resolution 11

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 in the capital of the Company of par value 0.01 penny each (the "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 2017 or, if earlier, the date falling eighteen months from the passing of these resolutions;

e.       The Company may make a contract to purchase its own Ordinary Shares under the authority hereby conferred prior to the expiry of such 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 12

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 of incorporation (in substitution for any existing such power or authority) to allot up to: 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, as if the pre-emption provisions contained in Article 40(1) of the articles of incorporation 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 2017, 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 13

THAT the regulations contained in the document signed for the purposes of identification by the Chairman be and are hereby approved and adopted as the new Memorandum of Incorporation of the Company in substitute for and to the exclusion of the existing Memorandum of Incorporation of the Company.

Resolution 14

THAT the regulations contained in the document signed for the purposes of identification by the Chairman be and are hereby approved and adopted as the new Articles of Incorporation of the Company in substitution for and to the exclusion of the existing Articles of Incorporation of the Company.

For further information:

Erica Sibree Amber Fund Management Limited	[phone]
Nick Westlake/Hugh Jonathan Numis Securities	[phone]/1263
Ed Berry/Mitch Barltrop FTI Consulting	[phone]/1039

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'), regulated asset and other similar procurement methods.

Listed in 2006, INPP is a long-term investor in 122 social and transport infrastructure projects, including schools, hospitals, courts, police headquarters, transport and utility and transmission projects in the U.K., Europe, Australia and North America.  INPP seeks to provide its shareholders with both a long-term yield and capital growth through investment across both construction and operational phases typically of 25-40 year concessions.

Amber Infrastructure Group ('Amber') is the Investment Advisor to INPP and consists around 90 dedicated staff who manage, advise on and originate projects for INPP.

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

 

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