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RNS Number : 9445J

Bglobal PLC

18 June 2014

18 June 2014

Bglobal plc ('Bglobal', the 'Group' or the 'Company')

Result of General Meeting

Bglobal plc (the "Company") announces that at the General Meeting held earlier today the resolution was passed. The proxy results were as follows:

 
      Resolution                                       Total Votes For *   Total Votes Against   Total Votes 
                                                                                                   Withheld 
---  -----------------------------------------------  ------------------  --------------------  ------------ 
 1    To approve the disposal of Utiligroup Limited       66,238,836              5,941            234,319 
                                                            (99.99%)             (0.01%) 
 ---------------------------------------------------  ------------------  --------------------  ------------ 
 

* Includes discretionary votes

The disposal of Utiligroup Limited is expected to be completed on Friday 20 June 2014.

Commenting on the result, John Grant, Executive Chairman stated, "I would like to thank shareholders for their support of the disposal of Utiligroup Limited. I look forward to updating shareholders on the return of capital shortly"

The Board anticipates that a return of capital of equal to up to 11 pence per Ordinary Share will be undertaken in 2014, with the balance of approximately GBP5.1 million being retained to cover working capital and any liabilities arising from the disposal of Utiligroup and Bglobal Metering under the warranties and indemnities given to each buyer in respect of those transactions. The Board expects that surplus monies will be returned to Shareholders once the extent of these liabilities, if any, has been determined. Additionally, it is the Board's intention, in due course, to cancel the admission of the Company's Ordinary Shares to trading on AIM. The Board will update Shareholders in relation to these matters when further information is available.

- Ends-

For further information, please contact:

 
John Grant, Executive  Mark Taylor                  Rebecca Sanders-Hewett 
 Chairman               Laura White                  Dwight Burden 
 Tim Jackson-Smith,     Charles Stanley Securities   David Ison 
 CEO                    Nominated Adviser and        Redleaf Polhill 
 Bglobal plc            Broker                       Tel: 020 7382 4730 
 Tel: 01254 819 600     Tel: 020 7149 6000 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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