Reconstruction Capital II Ltd Result of EGM (5952V)
29 October 2014 - 11:08PM
UK Regulatory
TIDMRC2
RNS Number : 5952V
Reconstruction Capital II Ltd
29 October 2014
29 October 2014
Reconstruction Capital II Limited
Result of EGM
Reconstruction Capital II Ltd ("RC2" or the "Company"),
announces that shareholders have supported both Resolutions which
were proposed at today's Extraordinary General Meeting of
Shareholders ("EGM") regarding the continuation of the life of the
Company and the issuance of EUR8,450,000 of Convertible Loan Notes,
as follows:
Resolutions In favour Against Withheld
----------------------------------- ------------------- --------------- ---------
Votes %* Votes %*
----------------------------------- ----------- ------ -------- ----- ---------
Extraordinary resolution
to continue the Company
as presently constituted
for a further two years
until the Annual General
Meeting to be convened in
2016 60,412,447 99.43 348,279 0.57 866,424
----------------------------------- ----------- ------ -------- ----- ---------
Ordinary resolution to authorise
the Directors to be authorised
to issue Convertible Loan
Notes
up to an aggregate nominal
amount of EUR8,450,000 including
the right to convert the
amounts outstanding
on the basis of 7.41 New
Ordinary Shares for every
EUR1.00 of outstanding amount
of principal of
Convertible Loan Notes (or
as the conversion ratio
may be adjusted under the
anti-dilution provisions
of
the Convertible Loan Notes). 61,278,871 99.43 348,279 0.57 0
----------------------------------- ----------- ------ -------- ----- ---------
* Percentage of votes cast excludes Withheld votes.
Accordingly:
- the life of the Company will be continued for a further two
years until the Annual General meeting to be convened in 2016;
and
- the Company will issue Convertible Loan Notes up to an
aggregate nominal amount of EUR8,450,000 as set out in the Circular
which was posted to shareholders on 6 October 2014. Definitive
Convertible Loan Note certificates will be despatched to Note
holders by 7 November 2014.
Convertible Loan Note Subscriptions
The Company received applications from certain existing
Shareholders to take up EUR8,450,000 in aggregate of the
Convertible Loan Notes.
Following the Resolutions being passed at today's EGM Ion
Florescu (or entities related to him), a former Director of the
Company and substantial shareholder, will invest EUR6,210,000 in
Convertible Loan Notes. Substantial shareholders in the Company
subscribed for Notes per the table below:
Convertible % Issued Share Capital
Loan Notes (prior to conversion
subscribed Ordinary of Convertible Loan
for (EUR) Shares held Notes)
Ion Florescu 6,210,000 28,297,656 28.30%
Reichmuth & Co.
(as nominee) 500,000 7,265,667 7.27%
Furthermore, certain Directors, namely Howard I. Golden, Dirk
Van den Broeck and Markus Winkler also subscribed for Notes per the
table below:
Convertible % Issued Share Capital
Loan Notes (prior to conversion
subscribed Ordinary of Convertible Loan
for (EUR) Shares held Notes)
Howard Golden 151,000 1,059,732 1.06%
Dirk Van den
Broeck 202,000 2,036,831 2.04%
Markus Winkler 110,000 500,000 0.50%
Capitalised terms not otherwise defined in this announcement
shall have the same meanings as set out in the Circular dated 6
October 2014.
For further information, please contact:
Reconstruction Capital II Limited
Ion Florescu / Ivanka Ivanova
Tel: +44 (0) 207 244 0088
Grant Thornton UK LLP (Nominated Adviser)
Philip Secrett / David Hignell / Edward Thomas
Tel: +44 (0) 20 7383 5100
This information is provided by RNS
The company news service from the London Stock Exchange
END
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