Wireless Group PLC
(formerly UTV Media plc)
Result of General
Meeting
The Board of Wireless Group PLC (the "Company") is pleased to
report that at a General Meeting of the Company held today,
Wednesday 23 March 2016, the special
resolution put to the meeting in connection with the Company's
return of cash to shareholders and accompanying share consolidation
was duly passed. Further details of the resolution are set out in
the circular to shareholders published on 4
March 2016.
The special resolution was passed on a show of hands. The total
number of proxy votes received in respect of the resolution 48
hours prior to the meeting is set out below.
| Special Resolution |
Vote type |
Voted |
Voted % |
% of Issued Share
Capital |
|
|
|
|
|
To adopt
the new articles of association
of the Company and to approve the
return of capital pursuant to the
B Share Scheme and the related
Share Capital Consolidation
as outlined in the Circular to Shareholders |
For |
64,759,871 |
99.96 |
67.37 |
Against |
3,040 |
0.00 |
0.00 |
Votes Withheld |
166 |
0.00 |
0.00 |
Discretion |
20,662 |
0.03 |
0.02 |
The share consolidation is due to take effect after the close of
business today, when shareholders will automatically exchange each
holding of 7 Existing Ordinary Shares of 5
pence each for 5 New Ordinary Shares of 7 pence each. Accordingly, application has
been made to the UK Listing Authority and the Irish Stock Exchange
to amend the respective Official Lists and to the London Stock
Exchange and the Irish Stock Exchange to amend the trading line
whereby 68,657,787 ordinary shares of 7
pence each will commence trading at 8.00am on Thursday 24 March 2016.
A fractional entitlement will arise as a result of the share
consolidation unless a holding of Existing Ordinary Shares is
exactly divisible by 7. These fractional entitlements will be
aggregated into whole New Ordinary Shares and sold in the market.
The value of the fractional entitlements will be paid (net of
expenses) as part of the return of cash payment. Payments in
respect of the return of cash and any fractional entitlements are
expected to be despatched by Friday 1 April
2016.
The total number of ordinary shares in issue at 6pm on Wednesday 23 March
2016 was 96,120,902 ordinary shares of 5 pence each, with each share carrying the right
to one vote.
The Company's issued share capital that will be admitted to
trading on the London Stock Exchange and Irish Stock Exchange's
main markets as at 8.00am on Thursday
24 March 2016 will be 68,657,787
ordinary shares of 7 pence each, with
each share carrying the right to one vote.
The Company holds no ordinary shares in treasury.
The total number of voting rights in the Company, as at
8.00am on Thursday 24 March 2016 will be 68,657,787.
The above figure may be used by shareholders as the denominator
for the calculations by which they will determine if they are
required to notify their interest, or a change to their interest,
in the Company under the FCA's Disclosure and Transparency
Rules.
In accordance with Listing Rule 9.6.2, copies of the resolution
will be submitted to the National Storage Mechanism and will
shortly be available for viewing.
The Circular and the voting results are also available on the
Wireless Group PLC website at www.wirelessgroupplc.com.
For further information, please contact:
Norman
McKeown, Group Finance Director
Tel: +44 (0) 2890 262204
23 March
2016