Result of AGM and General Meeting

RNS Number : 7032J

Prime People PLC

16 June 2014

 



16 June 2014

Prime People plc

("Prime People" or the "Company")

Result of AGM

Prime People Plc, (AIM:PRP) (the "Company") announces that at its AGM held earlier today, all resolutions were duly passed.

Result of General Meeting

Prime People (AIM: PRP) announces that the special resolutions proposed at the General Meeting held earlier today, as set out in a Circular posted to Shareholders on 29 May 2014 containing a notice of the General Meeting, were all duly passed by Shareholders.

Accordingly, the proposed Capital Reduction will take effect if confirmed by the Court in the terms proposed by the Board and upon the Order of the Court being lodged with, and registered by, the Registrar of Companies, which is expected to take place on 17 July 2014.

The effect of the proposed Capital Reduction will be to cancel £1.8 million, being part of the amount standing to the credit of the Share Premium Account, so that that this sum may be paid to Shareholders who are on the Company's register of members at the Record Date (expected to be 6:00 p.m. on 16 July 2014) pro rata to their respective holdings of Ordinary Shares. Taking into account the recent exercises of share options, it is currently expected that the Company may be able to return approximately 14.7 pence per Ordinary Share on or around 24 July 2014 (calculated by reference to the expected number of Ordinary Shares in issue at the Record Date and assuming no further exercises of any share options).

A further announcement will be made following the Capital Reduction becoming effective.

Unless the context requires otherwise, defined terms used in this announcement shall have the meanings given to them in the Circular dated 29 May 2014.

A copy of the Circular is available on the Company's website at www.prime-people.co.uk.

For further information, please visit www.prime-people.co.uk or contact:

Prime People plc	Tel: [phone]
Robert Macdonald, Executive Chairman Chris Heayberd, Finance Director
Cenkos Securities plc	Tel: [phone]
Ivonne Cantu Julian Morse (Sales/Broking)

Forward-looking statements

Certain statements contained in this announcement are or may constitute "forward-looking statements". These statements may be identified by words such as "expects", "looks forward to", "anticipates", "targets", "aims", "may", "would", "could", "intends", "plans", "believes", "seeks", "estimates", "will", "project" or words of similar meaning. They include all matters that are not historical facts. Such statements are based on the current expectations and certain assumptions of the Directors and are, therefore, subject to certain risks and uncertainties. Forward-looking statements are not guarantees of future performance and a number of factors could cause actual results and developments to differ materially from those expressed or implied by the forward-looking statements. The forward-looking statements in this announcement speak only as of the date of this announcement. Except as required by law, the Company disclaims any obligation to update any such forward-looking statements to reflect future events or developments.

 

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