Equest Investments Balkans Ltd
25 April 2008
25 April 2008
Equest Investments Balkans Limited
('EIB' or the 'Company')
Further re reorganisation of the Company
The Board of EIB announces that, at the General Meeting held earlier today in
connection with the recommended proposals for the reorganisation of the
management structure of the Company, amendments to the articles of association
and disapplication of pre-emption rights (as described in the Circular to
shareholders dated 28 March 2008), the following resolutions were all duly
passed:
Resolution 1: to (i) approve the Proposals, (ii) grant authority to the Board to allot and
issue the Consideration Shares, (iii) grant authority to the Board to allot and
issue any Ordinary Shares upon exercise of the Warrants, (iv) grant authority to
the Board to allot and issue any Ordinary Shares under the LTIP and (v) agree
that ECL shall be deemed in respect of any issues of new Ordinary Shares to hold
its then shareholding in the Company plus the Consideration Shares and the
Ordinary Shares to be issued upon exercise of the Warrants;
Resolution 2: to approve the removal of restrictions on the Company's investing strategy;
Resolution 3: to approve the amendments to the Articles and disapplication of pre-emption
rights over 1,826,589 Ordinary Shares (being 10% of the total number of
currently issued Ordinary Shares together with the Consideration Shares); and
Resolution 4: to approve the proposed unconditional changes to the Articles.
Upon implementation of the Proposals (which would take effect only upon
delisting of the Company's Ordinary Shares from the Irish Stock Exchange (the '
ISE')), the Company would no longer have an investment manager within the
meaning of the ISE rules regulating Investment Funds. Accordingly,
implementation of the Proposals remains conditional on the delisting of the
Ordinary Shares from the ISE.
It is currently expected that the delisting of the Company's Ordinary Shares
from the ISE will take place during July 2008. The Ordinary Shares will
continue to be admitted to trading on AIM.
The changes to the Articles approved as part of Resolution 4 have become
effective.
The definitions used in this announcement are the same as the ones used in the
Circular.
For further information:
Equest Partners Limited Petri Karjalainen +44 20 7240 7600
Naomi Kora
Financial Dynamics Nick Henderson +44 20 7269 7132
David Cranmer
Collins Stewart Europe Limited Hugh Field +44 20 7523 8350
Collins Stewart Europe Limited ('Collins Stewart') which is regulated and
authorised by the Financial Services Authority and is a member of the London
Stock Exchange, is acting exclusively for the Company and no one else in
connection with the Proposals and Associated Changes. Collins Stewart will not
regard any other person as its customer nor be responsible to any other person
for providing the protections afforded to customers of Collins Stewart nor for
providing advice in relation to the transactions and arrangements detailed in
this document.
This information is provided by RNS
The company news service from the London Stock Exchange
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