YJL PLC
7 March 2001
YJL plc is pleased to announce that the resolutions proposed at the Annual
General Meeting held this morning were duly passed.
In addition, resolutions were passed at the Extraordinary General Meeting also
held this morning which approved the following:
1. the change of the Company's name to Montpellier Group plc;
2. the granting to the Company of authority to purchase up to
10,213,616 of its own shares ('the Buyback Resolution'); and
3. the waiver of the mandatory bid obligation that would otherwise
arise on Browallia International BV if the authority granted
pursuant to the Buyback Resolution was exercised ('the Whitewash
Resolution').
The Whitewash Resolution was conducted on a poll of independent shareholders.
Holders of 11,641,552 ordinary shares in the Company, representing
approximately 98.4 per cent. of the votes cast by the independent
shareholders, approved by way of an ordinary resolution the waiver by The
Panel on Takeovers and Mergers of any obligation which might otherwise fall on
Browallia International BV and by persons acting in concert with it (or any of
them), to make a general offer to the shareholders of the Company under Rule 9
of the City Code on Takeovers and Mergers as a result of the utilisation of
the Buyback Resolution authority.
Should the Buyback Resolution authority be exercised in full, assuming no
increase in the current issued share capital of the Company and no change in
the number of shares held by Browallia International BV and persons connected
with it, the voting rights attributable to the ordinary shares held by
Browallia International BV and persons connected with it would rise from 33.10
per cent. to 39.00 per cent.
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