Character Group PLC Result of AGM (7524U)
20 January 2017 - 11:46PM
UK Regulatory
TIDMCCT
RNS Number : 7524U
Character Group PLC
20 January 2017
Friday, 20 January 2017
The Character Group plc
("Character" or the "Group")
Annual General Meeting ("AGM")
The AGM
At today's Annual General Meeting (20 January 2017), all
Resolutions proposed to shareholders were duly passed.
Share buy-backs
Included in the resolutions passed at the AGM, was an authority
(the "Authority") for the Company to buy-back issued ordinary
shares of 5 pence each in the Company ("Ordinary Shares"). Pursuant
to the Authority, the Company has the capacity to buy-back up to
3,214,700 issued Ordinary Shares. Buy-backs pursuant to the
Authority, will end, unless terminated earlier, on 19 January 2018
and the maximum amount of money allocated to the share buy-back
programme at this stage is GBP5 million.
The Company remains committed to its previously stated objective
to enhance shareholder value and reserves the right to exercise the
Authority and effect buy-backs if, in the opinion of the directors,
such action would further enhance shareholder value.
Due to the limited liquidity in the issued Ordinary Shares, a
buy-back of Ordinary Shares pursuant to the Authority on any
trading day is likely to represent a significant proportion of the
daily trading volume in the Ordinary Shares on the AIM market of
the London Stock Exchange and is likely to exceed 25 per cent of
the average daily trading volume, being the limit laid down in
Article 5(1) of Regulation (EU) No 596/2014 and, accordingly, the
Company will not benefit from the exemption contained in this
Article.
The Company will announce any market purchase of Ordinary Shares
pursuant to the Authority without delay.
Re-appointment of Executive Directors
At today's AGM, Mark Dowding and Jeremiah Healy resigned as
Directors in accordance with the Company's Articles of Association.
Immediately following the AGM Mr Dowding and Mr Healy were
re-appointed as Directors by the Board, to serve until the next AGM
at which time they will be eligible for re-appointment by the
shareholders.
Enquiries:
The Character Group plc
Mark Dowding
Company Secretary
Tel: +44 (0)208 329 3377
www.thecharacter.com
Ticker: AIM: CCT
This information is provided by RNS
The company news service from the London Stock Exchange
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