Result of EGM
June 05 2009 - 1:09PM
UK Regulatory
TIDMBRDH
RNS Number : 4915T
Burani Designer Holding N.V.
05 June 2009
BURANI DESIGNER HOLDING N.V. ("BDH" or the "Company")
RESULT OF EXTRAORDINARY GENERAL MEETING
The Company announces that all resolutions proposed at the Extraordinary General
Meeting of BDH held today were duly passed by shareholders. In particular, 77.4
per cent of shareholders voting cast their vote in favour of the resolution for
the cancellation of the admission of the Company's ordinary shares to trading on
AIM (the "De-Listing"). In accordance with AIM Rule 41, the de-listing
resolution required the consent of not less than 75 per cent. of votes cast by
shareholders at the EGM.
As a consequence and as stated in the circular to shareholders dated 18 May 2009
(the "Circular"), it is therefore expected that the De-Listing will become
effective from 07.00 (UK time) (08.00 (CET)) on 16 June 2009. Accordingly, there
will be no market facility for dealing in (i) the Company's ordinary shares (the
"Ordinary Shares") or (ii) depository interests representing the Ordinary Shares
(the "Depository Interests") and no price will be publicly quoted for the
Depository Interests or Ordinary Shares as from close of business on 15 June
2009. As such, interests in Ordinary Shares or Depository Interests are unlikely
to be readily capable of sale after the De-Listing and where a buyer is
identified, it may be difficult to place a fair value on any such sale.
While there can be no guarantee that Shareholders or Depository Interest Holders
will be able to sell any Shares or Depository Interests after the De-Listing,
any Shareholder or Depository Interest Holder seeking to do so following the
De-Listing should contact the Company Secretary (Maria Rita Galli) in writing at
Via Pietro Verri, 10, 20121 Milan, Italy (email: mrgalli@buranidh.com). The
Company Secretary will then be able to advise as to whether the Board is aware
of any prospective buyers for any Ordinary Shares or Depository Interests which
the holder thereof wishes to sell at that time.
As stated in the Circular, it is the current intention of Burani Private Holding
S.p.A. ("BPH"), the Company's majority shareholder, that following the
De-Listing, the Company will continue to maintain the Depository Interests, such
that any transactions in the Depository Interests that are effected can be
settled through CREST (the UK-based system for the paperless settlement of
trades in listed securities, of which Euroclear UK & Ireland Limited is the
operator). However, there can be no certainty as to the length of time for which
this facility will be available. In particular if, following the De-Listing, BPH
proceeds with its plans to re-domicile in Italy, this is likely to be effected
through a cross border merger which will likely require all Depository Interests
to be re-materialised into Ordinary Shares.
Date: 5 June 2009
Enquiries:
+---------------------------------------+---------------------------------------+
| Burani Designer Holding N.V. | Tel: +39 02 7642 0111 |
+---------------------------------------+---------------------------------------+
| Carol Brumer, IR | |
+---------------------------------------+---------------------------------------+
| | |
+---------------------------------------+---------------------------------------+
| Shore Capital and Corporate Limited | Tel: +44 20 7408 4090 |
| (NOMAD) | |
+---------------------------------------+---------------------------------------+
| Dru Danford | |
+---------------------------------------+---------------------------------------+
| Stephane Auton | |
+---------------------------------------+---------------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
REGSSMFWISUSESM
Burani (LSE:BRDH)
Historical Stock Chart
From Jun 2024 to Jul 2024
Burani (LSE:BRDH)
Historical Stock Chart
From Jul 2023 to Jul 2024
