Result of Meeting

RNS Number : 5726E

Pennant International Group PLC

10 April 2014

 



10 April 2014

PENNANT INTERNATIONAL GROUP PLC

(AIM: PEN)

Result of AGM and GM

Pennant International Group plc ("Pennant" or "the Company") announces that at the Annual General Meeting held earlier today, all resolutions put to shareholders 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 14 March 2014, 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 39.14 per cent of the Company's voting shares. The authority granted to the Company to make market purchases is over 3,948,339 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 46.04 per cent of the Company's voting shares.

Contacts:
Pennant International Group plc	www.pennantplc.co.uk
John Waller, Finance Director	[phone]
WH Ireland Limited	www.wh-ireland.co.uk
Mike Coe / Ed Allsopp	[phone]
Winningtons Financial	www.winningtons.co.uk
Paul Vann / Tom Cooper	[phone]

Pennant International Group plc, based in Cheltenham, England and is listed on AIM, a market operated by the London Stock Exchange.

 

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