RPL Renewable Power

 

TIDMRPL 
 
RNS Number : 6310Z 
Renewable Power and Light Plc 
24 September 2009 
 

RENEWABLE POWER & LIGHT PLC 
Director Resignations 
24 September 2009 
Renewable Power & Light plc (AIM: RPL) ("RPL" or "the Company"), today announces 
that Mr Donald Verbick and Mr Mark Draper have resigned as directors of the 
Company with immediate effect. The resignations of Mr Verbick and Mr Draper have 
been accepted by the board of directors of the Company (the "Board"). 
 
 
At a general meeting on 19 August 2009 the Company decided to adopt a new 
investment policy to dispose of its operating assets, further reduce overheads, 
preserve cash and maximize and realise value for shareholders.  These 
resignations are part of the ongoing implementation of this policy. 
 
 
Mr Verbick was the Senior Vice-President and operations officer of the Company. 
Mr Verbick has agreed to continue to act as a director of RPL Holdings Inc., the 
Company's wholly owned US subsidiary, for such time as required by the Board. 
Mr Draper was a non-executive director of the Company. 
 
 
The Board would like to take this opportunity to thank Mr Verbick and Mr Draper 
for their valuable contribution to the Company. 
 
 
 
 
For further information, please contact: 
 
 
Renewable Power & Light plcTim Hunstad      Telephone: +1 952 746 0393 
 
 
Grant Thornton Corporate Finance        Gerald Beaney      Telephone: +44 0207 
383 5100 
(Nominated Adviser) 
 
 
 
 
Dealing Disclosure Requirements 
 
 
Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the 
'Code'), if any person is, or becomes, 'interested' (directly or indirectly) in 
1% or more of any class of 'relevant securities' of RPL, all 'dealings' in any 
'relevant securities' of that company (including by means of an option in 
respect of, or a derivative referenced to, any such 'relevant securities') must 
be publicly disclosed by no later than 3.30pm (London time) on the London 
business day following the date of the relevant transaction. 
 
 
This requirement will continue until the date on which the offer becomes, or is 
declared, unconditional as to acceptances, lapses or is otherwise withdrawn or 
on which the 'offer period' otherwise ends. If two or more persons act together 
pursuant to an agreement or understanding, whether formal or informal, to 
acquire an 'interest' in 'relevant securities' of RPL, they will be deemed to be 
a single person for the purpose of Rule 8.3. Under the provisions of Rules 8.1 
of the Code, all 'dealings' in 'relevant securities' of RPL by a potential 
offeror, or RPL, or by any of their respective 'associates', must be disclosed 
by no later than 12.00 noon (London time) on the London business day following 
the date of the relevant transaction. 
 
 
A disclosure table, giving details of the companies in whose 'relevant 
securities' 'dealings' should be disclosed, and the number of such securities in 
issue, can be found on the Takeover Panel's website at 
www.thetakeoverpanel.org.uk. 
 
 
'Interests in securities' arise, in summary, when a person has long economic 
exposure, whether conditional or absolute, to changes in the price of 
securities. In particular, a person will be treated as having an 'interest' by 
virtue of the ownership or control of securities, or by virtue of any option in 
respect of, or derivative referenced to, securities. 
 
 
Terms in quotation marks are defined in the Code, which can also be found on the 
Panel's website. If you are in any doubt as to whether or not you are required 
to disclose a 'dealing' under Rule 8, you should consult the Panel. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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