Result of SGM and Class Meetings (1288Z)
January 07 2011 - 10:37AM
UK Regulatory
TIDMUTL TIDMECIT
RNS Number : 1288Z
Utilico Limited
07 January 2011
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, TO US PERSONS OR IN OR INTO THE
UNITED STATES OR INTO OR FROM CANADA, JAPAN OR AUSTRALIA
For immediate release
7 January 2011
Utilico Limited
("Utilico")
Recommended proposals for amendments to Utilico's investment
policy, the acquisition of the assets of Eclectic Investment
Company plc ("Eclectic"), the acquisition of certain assets from
General Provincial Life Pension Fund (L) Limited ("GPLPF"),
cancellation of share premium account, increase of authorised share
capital and change of name to Utilico Investments Limited
Result of Special General Meeting and separate Class
Meetings
Utilico is pleased to announce that at the Special General
Meeting of Utilico and separate Class Meetings of Utilico Finance
Limited for each of the 2012, 2014 and 2016 ZDP class of shares
held in Bermuda today, all of the Resolutions were passed on a show
of hands (the proxy count is attached for information purposes
only).
Utilico also announces that the resolution to approve the
reconstruction and winding up of Eclectic was approved by Eclectic
Shareholders at the First Eclectic General Meeting held earlier
today.
In accordance with the original timetable, Utilico and Eclectic
will announce the result of elections by Eclectic Shareholders and
the terms of the Scheme and the Cash Option on 17 January 2011.
Subject to, inter alia, Eclectic Shareholders approving the special
resolution to be proposed at the Second Eclectic GM, the Scheme
will become effective on 17 January 2011 and it is expected that
the New Utilico Shares (including those relating to the GPLPF
Subscription Agreement) will be admitted to a premium listing on
the Official List and to trading on the main market of the London
Stock Exchange at 8 am on 18 January 2011 with CREST accounts in
respect of Depositary Interests being credited on the same day.
Cheques in respect of cash entitlements and new share certificates
will be despatched on or as soon as practicable after 18 January
2011.
The change of name to Utilico Investments Limited will also
become effective on 18 January 2011
Enquiries
Charles Jillings
Utilico Limited
+44 1372 271 486
Alastair Moreton/Dermot McKechnie
Westhouse Securities Limited
+44 207 601 6100
A copy of this press release and copies of the resolutions have
been submitted to the National Storage Mechanism and are available
for inspection at: www.Hemscott.com/nsm.do. and will be available
on Utilico's website at: www.utilico.bm
Definitions
Capitalised terms have the meaning set out in the definitions
section of the Circular published by Utilico on 6 December 2010
unless the sense or context determines otherwise.
Result of Special General Meeting and separate Class
Meetings
Special General meeting of Utilico:- Proxy count
Votes in Votes Votes
Resolution Business favour* % against % withheld
----------- ------------- ----------- ------ --------- ----- -----------
Approve the
revised
investment
1 policy 42,171,063 99.80 83,116 0.20 2,208
----------- ------------- ----------- ------ --------- ----- -----------
Enter into
the Transfer
Agreement
and Sale and
Purchase
Agreement
(proposed as
a related
party
2 resolution) 22,154,576 99.60 90,026 0.40 20,011,785
----------- ------------- ----------- ------ --------- ----- -----------
Approve the
GPLF
Subscription
Agreement
(proposed as
a related
party
3 resolution) 22,144,082 99.56 98,033 0.44 20,014,272
----------- ------------- ----------- ------ --------- ----- -----------
Approve the
reduction in
the Share
Premium
4 Account 42,149,501 99.79 88,368 0.21 19,537
----------- ------------- ----------- ------ --------- ----- -----------
Approve the
change of
5 name 42,172,924 99.81 82,274 0.19 2,208
----------- ------------- ----------- ------ --------- ----- -----------
Approve the
increase in
the
authorised
share
6 capital 42,164,343 99.80 85,752 0.20 7,311
----------- ------------- ----------- ------ --------- ----- -----------
* The votes in favour include those votes giving the Chairman
discretion
Class Meetings of Utilico Finance Limited: Proxy count
Votes in Votes Votes
Resolution Business favour* % against % withheld
----------- ----------- ----------- ------ ----------- ------ ----------
2012 ZDP Shares
------------------------------------------------------------------------------
Approve
the
revised
investment
1 policy 19,458,063 99.75 49,206 0.25 4,711
----------- ----------- ----------- ------ ----------- ------ ----------
Approve
the
reduction
in
Utilico's
Share
Premium
2 Account 19,455,496 99.75 48,478 0.25 5196
----------- ----------- ----------- ------ ----------- ------ ----------
2014 ZDP Shares
------------------------------------------------------------------------------
Approve
the
revised
investment
1 policy 12,205,913 84.95 2,162,840 15.05 900,000
----------- ----------- ----------- ------ ----------- ------ ----------
Approve
the
reduction
in
Utilico's
Share
Premium
2 Account 12,205,913 79.98 3,055,810 20.02 7,030
----------- ----------- ----------- ------ ----------- ------ ----------
2016 ZDP Shares
------------------------------------------------------------------------------
Approve
the
revised
investment
1 policy 10,803,334 97.39 289,510 2.61 428,500
----------- ----------- ----------- ------ ----------- ------ ----------
Approve
the
reduction
in
Utilico's
Share
Premium
2 Account 10,800,004 93.80 714,310 6.20 7,030
----------- ----------- ----------- ------ ----------- ------ ----------
* The votes in favour include those votes giving the Chairman
discretion
This information is provided by RNS
The company news service from the London Stock Exchange
END
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