Tangent Communications PLC Result of General Meeting (8032Q)
November 09 2012 - 9:51AM
UK Regulatory
TIDMTNG
RNS Number : 8032Q
Tangent Communications PLC
09 November 2012
09 November 2012
Tangent Communications plc ("Tangent" or the "Company")
Result of General Meeting
Tangent is pleased to announce that all of the resolutions
proposed at the General Meeting, held at 11.00am today, were duly
passed.
The number of votes in favour as a percentage of the votes
validly cast on each resolution was as follows:
Resolution Votes in favour (as
% votes cast)
Resolution 1 99.70%
Resolution 2 99.34%
Resolution 3 99.68%
On 24 October 2012, Tangent announced the proposed acquisition
of the entire issued share capital of Goodprint UK Limited
("Goodprint"), the proposed placing of 100,000,000 Placing Shares
at 10.00 pence per share, and the proposal for approval of a waiver
of an obligation under Rule 9 of the City Code on Takeovers and
Mergers.
It is anticipated that the admission of 41,066,376 new ordinary
shares of 1 pence each ("Ordinary Shares") to trading on AIM will
take place on Monday 12 November 2012 ("First Admission") and a
further 58,933,624 new Ordinary Shares will be admitted to trading
on AIM on Tuesday 13 November 2012 ("Second Admission").
Following Second Admission, the total number of Ordinary Shares
in the Company will be 276,445,113, with each share carrying the
right to one vote. The Company holds no shares in treasury.
Therefore, the total number of shares carrying voting rights in the
Company will be 276,445,113.
In order to comply with the City Code on Takeovers and Mergers,
Resolution 2, concerning the waiver of obligations under Rule 9 of
the City Code in connection with the exercise of any options
granted pursuant to the Concert Party Proposed Option Awards (the
"Whitewash Resolution"), was passed by means of a poll of
Independent Shareholders. The Concert Party did not vote on the
Whitewash Resolution. If, following completion of the Placing, the
Concert Party Proposed Option Awards are granted and exercised in
full, the 2005 Options are exercised in full and no other options
are awarded under the Proposed Executive Option Scheme, the number
of Ordinary Shares in the Company held by the Concert Party would
increase to 113,167,389 Ordinary Shares and the Concert Party's
holding would constitute 37.9 per. cent of all the voting rights in
the Company.
Completion of the acquisition of Goodprint is expected to take
place on Tuesday 13 November 2012.
Tim Green, Chief Executive Officer of Tangent commented:
"The acquisition of Goodprint will provide us with an expanded
platform for our existing online retail business, printed.com. Our
online business continues to thrive, as customer numbers grow
across all sites - printed.com, goodprint and smileprint".
For further information, please contact:
Tangent Communications plc 020 7462 6100
Timothy Green, CEO
Canaccord Genuity Limited 020 7523 8350
Bruce Garrow, Cameron Duncan, Emma Gabriel
Terms used in this announcement, not otherwise defined, are as
defined in the circular published on 24 October 2012. A copy of the
circular providing further details on, inter alia, the acquisition,
the placing and the Whitewash Resolution is available at the
Company's website (http://tangentplc.com/reports)
This information is provided by RNS
The company news service from the London Stock Exchange
END
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