Result of EGM (4043J)
June 29 2011 - 12:35PM
UK Regulatory
TIDMSLI
RNS Number : 4043J
Standard Life Invs Property Inc Tst
29 June 2011
29 June 2011
Standard Life Investment Property Income Trust Limited (the
"Company")
Result of Extraordinary General Meeting
At the Extraordinary General Meeting of the Company (the "EGM")
held on 29 June2011, all the resolutions set out in the Circular
and EGM Notice sent to shareholders dated 06 June 2011 were duly
passed as follows;
1. ORDINARY RESOLUTION
IT WAS RESOLVED THAT the Conversion , being a related party
transaction for the purpose of the Listing Rules of the UK Listing
Authority, be and is hereby approved.
2. SPECIAL RESOLUTION
IT WAS RESOLVED THAT subject to the passing of Resolution 1
above and the special class consent resolution at the separate
class meeting of the holder of preference shares of 25p each in the
capital of the Company (the "Preference Shares"). convened for 2.45
p.m. on 29 June 2011 (or any adjournment thereof), each of the six
million Preference Shares in issue and held by Standard Life
Assurance Limited shall be subdivided into 25 new preference shares
of 1 pence each in the capital of the Company (the New Preference
Shares") and such number (rounded down to the nearest whole number)
of the New Preference Shares shall be reclassified as and converted
into ordinary shares of 1p each (the "Ordinary Shares") carrying
the rights, privileges and subject to the restrictions attached to
the ordinary shares as set out in the articles of incorporation of
the Company, as is the amount determined by dividing the Preference
Share Liability (as defined in the circular of the Company dated 6
June 2011 (the "Circular")) on the Conversion Date (as defined in
the Circular) by an amount equal to 102 per cent. of the Adjusted
NAV per Share (as defined in the Circular and expressed in pounds
sterling) and that any remaining New Preference Shares shall be
acquired by the Company in consideration for and immediately
following such conversion and cancelled.
3. SPECIAL RESOLUTION
IT WAS RESOLVED THAT in substitution for any existing power and
authority granted to the Directors and subject to the passing of
Resolutions 1 and 2 above and the special class consent resolution
at the separate class meeting of the holder of preference shares
convened for 2.45 p.m. on 29 June 2011, the Directors be and are
hereby generally empowered to allot Ordinary Shares in the Company
or grant rights to subscribe for, or to convert securities into,
Ordinary Shares in the Company ("equity securities"), including the
allotment and grant of rights to subscribe for, or to convert
securities into, Ordinary Shares held by the Company as treasury
shares for cash, as if any pre-emption rights in relation to the
issue of shares, as set out in the Listing Rules made by the
Financial Services Authority under Part VI of the Financial
Services and Markets Act 2000 (as amended) did not apply to any
such allotment of or grant of rights to subscribe for or convert
into equity securities, provided that this power:
(a) shall expire on the date falling 15 months after the passing
of this resolution, save that the Company may, before such expiry,
make an offer or agreement which would or might require equity
securities to be allotted after such expiry and the Directors may
allot equity securities in pursuance of any such offer or agreement
as if the power conferred hereby had not expired; and
(b) shall be limited to the allotment of equity securities: (i)
pursuant to the Issue (as defined in the circular of the Company
dated 6 June 2011); and (ii) otherwise than pursuant to the Issue,
up to an aggregate nominal value of GBP168,900 being approximately
10 per cent. of the nominal value of the issued share capital of
the Company following the completion of the Issue (on the
assumption that the Issue is fully subscribed).
Copies of the Special Resolutions have been submitted to the
National Storage Mechanism and will shortly be available for
inspection at www.Hemscott.com/nsm.do
All Enquiries:
The Company Secretary
Northern Trust International Fund Administration Services
(Guernsey) Limited
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL
Tel: 01481 745529
This information is provided by RNS
The company news service from the London Stock Exchange
END
REGSESFMUFFSEDM
Abrdn Property Income (LSE:API)
Historical Stock Chart
From Jun 2024 to Jul 2024
Abrdn Property Income (LSE:API)
Historical Stock Chart
From Jul 2023 to Jul 2024