Black Sea Property Fund Limited Resignation of Directors (5781Z)
December 12 2014 - 5:00AM
UK Regulatory
TIDMBKSA
RNS Number : 5781Z
Black Sea Property Fund Limited
12 December 2014
Black Sea Property Fund Limited
("Black Sea" or the "Company")
Resignation of Directors
On 18 November 2014 the Company convened an Extraordinary
General Meeting to consider resolutions put forward by Fitel
Nominees Limited on behalf of Mamferay Holdings Limited to appoint
Trevor Hunt and Alexander Borrelli as new directors and to remove
John Chapman, Stephen Coe and Andrew Wignall as directors.
Three shareholders, representing 71.3% of the entire issued
share capital, voted for the removal of John Chapman and Stephen
Coe. Shareholders representing all of the remaining share capital
which voted by proxy either voted against the resolutions or
returned a proxy but withheld their vote.
John Chapman and Stephen Coe have therefore tendered their
resignations with effect from 10 a.m. on 12 December 2014. Those
resignations have been accepted by the Board.
John Chapman, Chairman of the Company commented, "I would like
to thank my colleagues for their hard work realising the Company's
assets and delivering returns to shareholders in accordance with
our shareholders' wishes. Since we have completed the disposal
process our shareholders authorized, the share registry has changed
and new shareholders have decided on a different direction for the
Company. The Board has questioned the wisdom of this decision, but
in accordance with the vote I wish the new board the best of luck
in their future endeavours."
The Company expects to release a further announcement following
the conclusion of the Extraordinary General Meeting.
Enquiries:
Nplus1 Singer (Nomad)
James Maxwell / Gillian Martin 020 7496 3000
SJ Secretaries Limited (Company
Secretary) 01534 850 750
This information is provided by RNS
The company news service from the London Stock Exchange
END
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