3Legs Resources plc Requisition of General Meeting (8276Y)

TIDM3LEG

RNS Number : 8276Y

3Legs Resources plc

27 February 2013

For Immediate Release

27 February 2013

3Legs Resources plc

Requisition of General Meeting

The board of directors of 3Legs Resources plc (the "Company" or"3Legs Resources"), confirms that it has received a notice from Singer Nominees Limited (who the board understands are acting as nominee for, and acting on the instructions of Damille Investments II Limited ("Damille"), a closed end investment fund, further details of which can be found at www.damilleinvestmentstwo.com), being a member of the Company holding 14.15% of the Company's issued share capital, requisitioning a meeting of the Company's shareholders (the "Requisition") pursuant to section 67(2) of the Isle of Man Companies Act 2006.

The Requisition proposes a number of ordinary resolutions (the "Resolutions") which include, the removal of the majority of the board of directors (being all of the directors except for Kamlesh Parmar and Richard Hills); the appointment of certain new directors to the board being Brett Lance Miller and Rhys Cathan Davies (who the board understands are both representatives of Damille); and the proposal that the company adopt a new investment strategy as follows "The investment objective of the Company is to manage the realisation of the Company's existing asset portfolio and to maximise the return of invested capital to shareholders during the period ending on 30 June 2015. During this period the Company shall not make any new investments other than to support its existing assets."

On the basis that this Requisition is not withdrawn, the Company intends to post, in due course, a notice to all shareholders convening a general meeting. Shareholders should take no action at this point; rather they should await receipt of the notice from the company convening the general meeting and full details of the resolutions being proposed. A further announcement will be made in due course.

For further information contact:

 
 3Legs Resources plc           Tel:    +44 1624 811 611 
 Kamlesh Parmar, CEO 
 Alexander Fraser, CFO 
 
 Jefferies Hoare Govett        Tel:    +44 207 029 8000 
 Simon Hardy 
 Jamie Buckland 
 
 Northland Capital Partners    Tel:    +44 207 796 8800 
 Louis Castro 
 Matthew Johnson 
 
 College Hill                  Tel:    +44 207 457 2020 
 Matthew Tyler 
 Catherine Wickman

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCEAKAXAFADEFF

3Legs Resources (LSE:3LEG)
Historical Stock Chart
From Jun 2024 to Jul 2024