Result of AGM and GM

RNS Number : 1548K

Pennant International Group PLC

14 April 2015

 

14 April 2015

PENNANT INTERNATIONAL GROUP PLC

(AIM: PEN)

Result of AGM and GM

Pennant International Group plc ("Pennant" or "the Company"), the AIM quoted supplier of integrated logistic support solutions, products and services, principally to the defence, rail, aerospace and naval sectors and to Government Departments, announces that at its Annual General Meeting held earlier today, all resolutions  were duly passed, including a resolution to authorise the directors to make market purchases of up to 15 per cent. of the Company's Ordinary Shares.

At the General Meeting also held earlier today, independent shareholders passed the resolution, on a poll, to approve the waiver of obligations under Rule 9 of the City Code on Takeovers and Mergers in respect of Christopher Powell, Jennifer Powell and the Powells' Concert Party, as detailed in the Circular dated 17 March 2015, in the event that the Company makes market purchases of its own ordinary shares.

Christopher Powell, Jennifer Powell and the Powells' Concert Party are interested in 10,301,533 Ordinary Shares, representing 38.91 per cent of the Company's voting shares. The authority granted to the Company to make market purchases is over 3,970,839 Ordinary Shares. If the Company were to utilise fully its authority to make market purchases the interests of Christopher Powell, Jennifer Powell and the Powells' Concert Party would represent 45.78 per cent of the Company's voting shares.

Contacts:
Pennant International Group plc	www.pennantplc.co.uk
Philip Walker, CFO	[phone]
WH Ireland Limited	www.wh-ireland.co.uk
Mike Coe / Ed Allsopp	[phone]
Walbrook PR	www.walbrookpr.com
Paul Vann / Tom Cooper	[phone]

 

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