Result of AGM

RNS Number : 4494H

International Public Partnership Ld

07 June 2017

 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION, RELEASE, OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN, OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY JURISDICTION IN WHICH THE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

INTERNATIONAL PUBLIC PARTNERSHIPS LIMITED

("INPP" or the "Company")

RESULT OF ANNUAL GENERAL MEETING ("AGM")

7 June 2017

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	523,269,611	100.00%	0	0%	0
2	Ordinary	523,225,801	99.99%	26,677	0.01%	17,133
3	Ordinary	514,692,946	98.36%	8,570,843	1.64%	5,822
4	Ordinary	482,501,310	92.33%	40,072,611	7.67%	695,690
5	Ordinary	523,253,861	99.99%	10,232	0.01%	9,518
6	Ordinary	517,306,549	98.87%	5,899,916	1.13%	63,146
7	Ordinary	523,253,170	99.99%	6,923	0.01%	9,518
8	Ordinary	520,163,969	99.42%	3,042,496	0.58%	63,146
9	Ordinary	489,748,318	93.60%	33,511,775	6.40%	9,518
10	Ordinary	523,262,911	100.00%	0	0%	6,700
11	Ordinary	494,008,010	99.99%	5,470	0.01%	29,256,131
12	Ordinary	523,267,748	99.99%	474	0.01%	1,389
13	Ordinary	523,266,843	99.99%	2,077	0.01%	691
14	Special	523,260,957	99.99%	8,654	0.01%	0
15	Special	523,257,122	99.99%	12,489	0.01%	0

*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 3 - Ordinary Resolution

To increase the aggregate remuneration of the Directors to a maximum of £500,000 per annum, in accordance with Article 79(1) of the Company's articles of incorporation.

Resolution 13 - Ordinary Resolution

THAT, in accordance with Article 108 of the articles of incorporation, the Board may, in respect of dividends declared for any financial period or periods of the Company ending prior to the annual general meeting of the Company to be held in 2018, offer the holders of the ordinary shares in the capital of the Company of par value 0.01 penny each (the "Ordinary Shares") the right to elect to receive further Ordinary Shares, credited as fully paid, in respect of all or any part of such dividend or dividends declared in respect of any such period or periods.

Resolution 14 - Special Resolution

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 2018 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 15 - Special Resolution

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 the existing power and authority granted at the Company's annual general meeting held in 2016, but without prejudice to any other authority to allot Ordinary Shares that may be granted by Shareholders at the Extraordinary General Meeting convened for 5 May 2017 or any adjournment thereof) to allot up to the aggregate number of Ordinary Shares as represent 9.99 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 2018, 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.

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 127 social and transport infrastructure projects, including schools, hospitals, courts, police headquarters, transport and utility and transmission projects in the UK, 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 Adviser to INPP and consists over 100 dedicated staff who manage, advise on and originate investments for INPP.

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

 

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