Result of EGM

RNS Number : 4459S

Babcock&Brown Public Ptnrships Ltd

18 May 2009

 



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

Results of Extraordinary General Meeting of Babcock & Brown Public Partnerships Limited (the 'Company')

On 30 March 2009, the Board of the Company announced certain proposals in relation to: (a) the transfer of the Company's investment advisory and management arrangements from the Babcock & Brown Group to the Amber Infrastructure Group; and (b) the change of the Company's name to 'International Public Partnerships Limited'.  

A circular relating to those proposals was posted to Company shareholders on 23 April 2009 containing, among other things, notice convening an Extraordinary General Meeting of the Company on 18 May 2009 and details of the actions to be taken by shareholders.

The Board is pleased to announce that, at the Extraordinary General Meeting of the Company held this morning, both resolutions relating to the proposals were passed with a 99.56% majority (and with over 42% of all Company shares being voted).  

The number of votes cast in respect of the resolutions are set out below:

Resolution	Shares for (including discretionary proxies)	% of votes cast for	Shares against	% of votes cast against	Shares withheld	% of votes withheld
Ordinary Resolution	159,416,419	99.56%	1,000	0.01%	700,100	0.44%
Special Resolution	159,416,419	99.56%	1,000	0.01%	700,100	0.44%

Accordingly, the Board will now proceed to the formal implementation of the transfer of the management arrangements and the change of Company name by completing the procedural steps required to finalise those transactions (including finalising the consents required to be provided by the Company's lenders under its £100 million corporate debt facility).  

The Board expects that those procedural steps will be completed within the next two weeks and the Company will make a further announcement at that time. The Company also expects to change its LSE ticker symbol to 'INPP' (in line with the change of name) upon the implementation of the transactions.

Copies of the resolutions have been submitted to the Financial Services Authority and will shortly be available for public inspection at the Document Viewing Facility of the UK Listing Authority, 25 The North Colonnade, Canary Wharf, London, E14 5HS.

For further information, please contact:

Investors & Analysts:                   Bianca Francis                                         Tel: [phone]

Media:                                          Anthony Kennaway                                   Tel: [phone]

Disclaimer

Nothing in this press release is intended as an offer to sell or a solicitation of an offer to buy any securities. An investment in Babcock & Brown Public Partnerships Limited (the 'Company') carries certain risks and past performance cannot be relied on as a guide to future performance.

Note on forward-looking statements

This press release may include statements that are, or may be deemed to be, ''forward-looking statements''. These forward-looking statements can be identified by the use of forward-looking terminology, including the term ''believes''.

These forward-looking statements include all matters that are not historical facts. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance. The Company's actual investment performance, results of operations, financial condition, liquidity, distribution policy and the development of its financing strategies may differ materially from the impression created by the forward-looking statements contained in this press release. 

Subject to their legal and regulatory obligations, the Directors of the Company expressly disclaim any obligations to update or revise any forward-looking statement contained herein to reflect any change in expectations with regard thereto or any change in events, conditions or circumstances on which any statement is based.

 

END

 

 

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