Result of EGM

RNS Number : 8810M

Worldsec Ld

30 August 2013

 



30 August 2013

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION, RELEASE, OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL OR TO US PERSONS.

This Announcement is an advertisement. It is not a prospectus and does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or solicitation of any offer to buy or subscribe for, any shares in Worldsec Limited or securities in any other entity, in any jurisdiction, including the United States, nor shall it, or any part of it, or the fact of its distribution, form the basis of, or be relied on in connection with, any contract or investment decision whatsoever, in any jurisdiction. This Announcement does not constitute a recommendation regarding any securities.

Any investment decision must be made exclusively on the basis of the documents published by the Company for the purposes of the Listing Rules comprising of, a Circular together with a Summary and Securities Note and a Registration Document (together the "Prospectus") in connection with the admission of new Ordinary Shares of the Company to the premium segment of the Official List of the UK Listing Authority and to trading on the London Stock Exchange's main market for listed securities ("Admission"). Copies of the Prospectus are available from the offices of TLT LLP, 20 Gresham Street, London EC2V 7JE.

Terms used in this announcement shall have the same meaning as set out in the Prospectus.

Result of the Special General Meeting

Worldsec Limited (the "Company" or "Worldsec") is pleased to announce that all of the resolutions (the "Resolutions") proposed at today's Special General Meeting, relating to the Maximum Subscription of First Placing Shares of 30,000,000 Ordinary Shares at a price of US$0.10 per share and the Open Offer of 13,367,290 New Shares at a price of US$0.10 per share, were duly passed without amendment.  Resolutions 1, 2, 3, 4, 6, 7 and 8 were passed by the required majority on a show of hands.  Resolution 5, which seeks the approval of the Shareholders in accordance with Chapter 11 of the Listing Rules to the related party transaction with Henry Ying Chew Cheong, the Company's Deputy Chairman, being his possible participation in the First Placing to a maximum of 6,242,925 First Placing Shares in his personal capacity, was passed on a poll and the votes cast are as follows: 3,043,632 votes in favour, nil votes against and nil withheld.  

Further details of the Resolutions are set out in the Notice of Special General Meeting contained in the Circular dated 2 August 2013 sent to Shareholders, copies of which are available from the offices of TLT LLP, 20 Gresham Street, London EC2V 7JE.

Details of the proxy votes received in advance of the Special General Meeting in respect of the Resolutions are as follows:

Resolution	For		Against		Withheld	Total (excl. votes withheld)
	Number	%	Number	%	Number	Number
Ordinary Resolutions
1. Current authorised share capital	9,870,226	100	0	0	0	0
2. Increase of authorised share capital	9,870,226	100	0	0	0	0
3. Authority to allot and issue shares	9,870,226	100	0	0	0	0
4. Investment policy	9,870,226	100	0	0	0	0
5. Related party transaction - Placing of Ordinary Shares pursuant to the First Placing	3,043,632	100	0	0	0	0
6. Bonus scheme	9,870,226	100	0	0	0	0
Special Resolutions
7. Authority to allot and issue shares at less than net asset value	9,870,226	100	0	0	0	0
8. Confirmation and acknowledgement	9,870,226	100	0	0	0	0

Notes

1.  Any proxy appointments which gave discretion to the Chairman have been included in the "for" total.

2.  A 'Vote Withheld' is not a vote in law and is not counted in the calculation of the proportion of the votes 'For' and 'Against' a resolution.

3.  The issued share capital of the Company as at 30 August 2013 is 13,367,290 Ordinary Shares.

4.  All percentages are shown to one decimal place.

In accordance with the Listing Rules, the Company has submitted a copy of the Resolutions passed at the Special General Meeting to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/UK/nsm.

For further information, please contact:
Worldsec Limited
Henry Ying Chew Cheong, Deputy Chairman	Hong Kong Tel:  [phone]
Smith & Williamson Corporate Finance Limited
Siobhan Sergeant, Martyn Fraser, Gareth Hughes	UK Tel: [phone]

 

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