TIDMINPP
RNS Number : 9052F
International Public Partnership Ld
21 June 2012
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT
FOR PUBLICATION, RELEASE, OR DISTRIBUTION, DIRECTLY OR INDIRECTLY,
IN, OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH
AFRICA OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL OR
TO U.S. PERSONS. THE INFORMATION CONTAINED HEREIN DOES NOT
CONSTITUTE AN OFFER OF SECURITIES FOR SALE INCLUDING IN THE UNITED
STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA.
21 June 2012
INTERNATIONAL PUBLIC PARTNERSHIPS LIMITED
RESULT OF ANNUAL GENERAL MEETING (the "AGM")
International Public Partnerships Limited ("INPP" or the
"Company") is pleased to announce that, at the AGM held at 2.45pm
this afternoon, each of the Resolutions were duly passed without
amendment.
In accordance with LR 9.6.18, details of those resolutions
passed, which were not ordinary business of the AGM, follow:-
Resolution Votes For (including Votes Against Votes Withheld*
discretionary)
9 - Special 221,854,295 (99.97%) 64,360 (0.03%) 24,705
10 - Special 211,521,459 (95.31%) 10,397,196 (4.69%) 24,705
11 - Special 221,022,707 (>99.99%) 6,601 (<0.01%) 914,052
*A vote withheld is not a vote in law and is therefore not
counted towards the proportion of votes "for" or "against" the
Resolution.
The full wording of these resolutions can be found below:-
Resolution 9
To approve that the Company generally be and is hereby
authorised for the purposes of section 315 of the Companies
(Guernsey) Law, 2008 as amended (the "Law") to make market
acquisitions (as defined in the Law) of Ordinary Shares provided
that:
a) The maximum number of Ordinary Shares authorised to be
purchased shall be 14.99 per cent. of the Ordinary Shares in issue
immediately following this annual general meeting (excluding
treasury shares);
b) The minimum price (exclusive of expenses) which may be paid
for such shares is GBP0.01 per Ordinary Share;
c) The maximum price (exclusive of expenses) payable by the
Company which may be paid for Ordinary Shares shall be the higher
of (i) 5 per cent. above the average market value for the five
business days before the purchase is made and (ii) the higher of
the price of the last independent trade and the highest independent
bid at the time of the purchase for any number of Ordinary Shares
on the trading venue where the purchase price is carried out;
d) The authority hereby conferred shall (unless previously
renewed or revoked) expire at the end of the annual general meeting
of the Company to be held in 2013 or, if earlier, the date falling
eighteen months from the passing of this resolution;
e) The Company may make a contract to purchase its own Ordinary
Shares under the authority hereby conferred prior to the expiry of
the above authority which will or may be executed wholly or partly
after the expiry of such authority, and may make a purchase of its
own Ordinary Shares in pursuance of any such contract; and
f) any Ordinary Share acquired by the Company pursuant to the
above authority may, subject to the requirements of the Law, be
held as a treasury share in accordance with the Law or be cancelled
by the Company.
Resolution 10
THAT the Directors of the Company from time to time (the
"Board") be and are hereby generally empowered in accordance with
Article 40(4) of the Articles (in substitution for any existing
such power or authority other than pursuant to resolution 11) to
allot up to: (i) the aggregate number of Ordinary Shares as
represent less than 10 per cent. of the number of Ordinary Shares
already admitted to trading on the London Stock Exchange's main
market for listed securities immediately following the passing of
this resolution and
(ii) such number of Ordinary Shares as may be agreed between the
Company and the provider from time to time of investment advisory
services to the Company (the "Investment Adviser") in lieu of a
cash payment in respect of the Investment Adviser's entitlement to
an incentive fee (if any) pursuant to the investment advisory
agreement between the Company and the Investment Adviser prevailing
at the time, in each case as if the pre-emption provisions
contained in Article 40(1) of the Articles did not apply to any
such allotment, provided that this power shall (unless previously
revoked, varied or renewed by the Company) expire on the conclusion
of the annual general meeting of the Company to be held in 2013,
save that the Company may make prior to such expiry any offer or
agreement which would or might require shares to be allotted after
expiry of such period and the Board may allot Ordinary Shares
pursuant to such an offer or agreement notwithstanding the expiry
of the authority given by this resolution.
Resolution 11
THAT the Board be and are generally empowered in accordance with
Article 40(4) of the Articles (in substitution for any existing
such power or authority other than pursuant to resolution 10) to
allot up to 232,258,065 Ordinary Shares for cash, as if the
pre-emption provisions contained in Article 40(1) of the Articles
did not apply to any such allotment, provided that:
a) this power shall (unless previously revoked, varied or
renewed by the Company) expire on the conclusion of the annual
general meeting of the Company to be held in 2013, save that the
Company may make prior to such expiry any offer or agreement which
would or might require shares to be allotted after expiry of such
period and the Board may allot shares pursuant to such an offer or
agreement notwithstanding the expiry of the authority given by this
resolution; and
b) this power shall be limited to the allotment of ordinary
shares of 0.01 pence each in the Company's capital in connection
with the placing, open offer and offer for subscription (as such
terms are defined in the prospectus issued by the Company dated 24
May 2012, a copy of which is produced to the meeting and initialled
by the Chairman for the purposes of identification).
For further information:
Erica Sibree +44 (0)20 7939 0558
Amber Fund Management Limited
Nick Westlake/Hugh Jonathan +44 (0)20 7260 1345/1263
Numis Securities
Ed Berry/Harry Stein +44(0)207 269 7297/7141 FTI Consulting
About International Public Partnerships (INPP):
International Public Partnerships (INPP) is a listed
infrastructure investment company which invests in global public
infrastructure projects developed under the public private
partnerships (PPP), private finance initiative (PFI) and other
similar procurement methods.
Listed in 2006, INPP is a long-term investor in 119 social and
transport infrastructure projects, including schools, hospitals,
courts, police headquarters, transport and renewable energy
projects in the U.K., Europe, Australia and Canada. INPP seeks to
provide its shareholders with both a long-term government-backed
yield and capital growth through investment across both
construction and operational phases of 25-40 year concessions.
Amber Infrastructure Group (Amber) is the Investment Advisor to
INPP and consists of more than 60 dedicated infrastructure
specialists which originate and source a strong pipeline of
projects for INPP.
Visit the INPP website at
www.internationalpublicpartnerships.com for more information.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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