Capital & Counties Properties Plc Circ re. acquisition of stake in Shaftesbury PLC (6652T)
July 21 2020 - 10:45AM
UK Regulatory
TIDMCAPC
RNS Number : 6652T
Capital & Counties Properties Plc
21 July 2020
LEI: 549300TTXXZ1SHUI0D54
21 July 2020
CAPITAL & COUNTIES PROPERTIES PLC ("Capco" or "the
Company")
PUBLICATION OF CIRCULAR AND NOTICE OF GENERAL MEETING
Further to the announcement made on 30 May 2020 and the approval
for publication by the Financial Conduct Authority (the "FCA"),
Capco has today published a circular containing detail of its
proposed acquisition of a second tranche of Shaftesbury PLC
("Shaftesbury") shares (the "Circular").
On 30 May 2020 Capco announced that it had agreed to acquire a
26.3 per cent. shareholding in Shaftesbury across two tranches. The
acquisition of the first tranche, representing 20.94 per cent. of
Shaftesbury's shares, completed on 3 June 2020. The acquisition of
the second tranche, representing 5.31 per cent. of Shaftesbury's
shares, when aggregated with the first tranche, constitutes a Class
1 transaction for the purposes of the Listing Rules and is
therefore conditional on the approval of Capco shareholders.
The Circular contains further details on the proposed
acquisition of the second tranche of Shaftesbury shares, the Notice
of General Meeting and details on the form of proxy.
Availability of Circular
The Circular will shortly be submitted to the FCA's National
Storage Mechanism and will be available for inspection on its
website at https://data.fca.org.uk/#/nsm/nationalstoragemechanism .
The Circular will also be available for viewing on Capco's website
at https://www.capitalandcounties.com/investors .
General Meeting
A General Meeting of the Company has been convened for 9.30 a.m.
(London time) on 10 August 2020 at 15 Grosvenor Street, London, W1K
4QZ to consider and, if thought fit, pass an ordinary resolution to
approve the acquisition of the second tranche of Shaftesbury
shares.
Shareholders who wish to vote are strongly encouraged to submit
their votes by proxy as soon as possible and, in any event, by no
later than 9.30 a.m. (London time) and 10.30 a.m. (Johannesburg
time) on 6 August 2020.
As a result of the COVID-19 outbreak, and in line with the
legislation and guidance issued by the UK Government, it is
necessary to restrict attendance at the General Meeting. Under the
Corporate Insolvency and Governance Act 2020, the rights of
shareholders to attend and to participate (other than by voting) in
a meeting of the Company have been suspended for a temporary period
beginning on 26 March 2020 and ending on 30 September 2020 due to
COVID-19. As the General Meeting will be held during this period,
attendance at the General Meeting will be limited to the minimum
number of persons to ensure the General Meeting is quorate and to
conduct the business of the meeting in line with the Company's
Articles of Association. Shareholders are asked not to attend the
meeting as it will be a closed meeting to which shareholders will
not be permitted.
Shareholders are therefore invited to submit any questions they
may wish to have answered by sending an email to
feedback@capitalandcounties.com or calling on +44 (0)20 3214 9170
and a response will be provided directly.
The definitions referenced in this announcement have the same
meaning as given in the Circular published today, unless otherwise
stated.
Enquiries:
Leigh McCaveny
Acting Company Secretary
Capital & Counties Properties PLC
+ 44 (0) 20 3214 9170
About Capital & Counties Properties PLC
Capital & Counties Properties PLC is one of the largest
listed property investment companies in central London and is a
constituent of the FTSE-250 Index. Capco's landmark estate at
Covent Garden was valued at GBP2.2 billion (as at 30 June 2020)
where its ownership comprises over 1.2 million square feet of
lettable space. Capco owns a 20.94 per cent shareholding in
Shaftesbury PLC. The Company is listed on the London Stock Exchange
and the Johannesburg Stock Exchange. www.capitalandcounties.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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