Notice of AGM

RNS Number : 9724J

Inchcape PLC

09 April 2010

 



Inchcape plc (the "Company")
9 April 2010

Notice of AGM and Share Consolidation

The Company announces that notice was sent to shareholders on 9 April 2010 that the Company's Annual General Meeting ("AGM") will be held at 11.00 a.m. on Thursday 13 May 2010 at J.P. Morgan Cazenove, 20 Moorgate, London EC2R 6DA (the "Notice of AGM").

The Company also confirms that it has submitted two copies of the 2009 Annual Report and Accounts, Notice of AGM and form of proxy for the AGM to the UK Listing Authority, which will shortly be available for inspection at the UK Listing Authority's Document Viewing Facility, which is situated at The Financial Services Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS.

The resolutions to be proposed at the AGM include a share consolidation, such that the existing ordinary shares of one penny each in the capital of the Company (the "Existing Ordinary Shares") then in issue or held in Treasury are consolidated into new ordinary shares of 10 pence each in the capital of the Company (the "New Ordinary Shares") on the basis of ten Existing Ordinary Shares being consolidated into one New Ordinary Share.  Following this share consolidation, the Company's issued ordinary share capital will comprise approximately 460 million New Ordinary Shares..

The purpose of the share consolidation is to reduce the number of shares in issue following the Company's rights issue in 2009 and to increase the Company's likely share price to a figure more appropriate for a company of Inchcape plc's size in the UK market.

At the AGM, it will also be proposed that the Company adopts new articles of association.  A summary of the proposed changes is set out in the explanatory notes which accompany the Notice of AGM.  Shareholders should refer to the Notice of AGM, which is also available on the Company's website, www.inchcape.com, for further information on the resolutions to be proposed at the AGM.

Ends

Group Communications, Inchcape plc

[phone]

Investor Relations, Inchcape plc

[phone]

Financial Dynamics  (Jonathon Brill/Billy Clegg)

[phone]

www.inchcape.com

Notes to editors

About Inchcape:

Inchcape is the leading, independent international automotive distributor and retailer operating in 26 markets. Inchcape has diversified multi-channel revenue streams including sale of new and used vehicles, parts, service, finance and insurance.

Inchcape's vision is to be the world's most customer-centric automotive retail group and represents some of the world's leading automotive brands, including Toyota, Lexus, Subaru, BMW, Mazda, Mercedes-Benz, Volkswagen, Audi, Honda, Land Rover and Jaguar.

Inchcape, which has been listed on the London Stock Exchange since 1958, is headquartered in London, employs around 15,000 people.

 

END

 

 

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