W.H. Ireland Group PLC AGM Update (4217Z)
14 March 2017 - 11:16PM
UK Regulatory
TIDMWHI
RNS Number : 4217Z
W.H. Ireland Group PLC
14 March 2017
WH Ireland Group Plc
("WH Ireland" or the "Company")
AGM Update
Further to the announcement of 27 February 2017 in which the
Company announced it had dispatched a notice of Annual General
Meeting to all shareholders ("AGM Notice"), the Company confirms
that it has received notice from a shareholder proposing a minor
amendment to Resolution 5 as set out in that AGM Notice.
The proposed amendment would, if passed, reduce the directors
authority to allot equity securities pursuant to section 551 of the
Companies Act 2006 as proposed in the AGM Notice to the authority
to allot equity securities in connection with a pre-emptive rights
issue up to an aggregate nominal value of GBP137,438, which is
equal to ten per cent. of the nominal value of the issued ordinary
share capital of the Company at 24 February 2017. The full text of
resolution 5 as proposed to be amended is set out below:
Text of Resolution 5 (which is an ordinary resolution) as
proposed to be amended
"5. That, in substitution for any equivalent existing and
unexercised authorities and powers, the directors of the Company be
and they are hereby generally and unconditionally authorised for
the purpose of section 551 of the Companies Act 2006 (the "Act") to
exercise all or any of the powers of the Company to allot shares of
the Company or to grant rights to subscribe for, or to convert any
security into, shares of the Company (such shares and rights being
together referred to as "Relevant Securities") comprising equity
securities (as defined in section 560(1) of the Act) up to an
aggregate nominal amount of GBP137,437 in connection with a rights
issue in favour of ordinary shareholders in proportion (as nearly
as may be practicable) to their existing holdings and the directors
may make such arrangements or exclusions as they consider necessary
or appropriate to deal with fractional entitlements or any legal or
practical difficulties under the laws of any territory or the
requirements of any recognised regulatory body or stock exchange in
any territory provided that this authority shall, unless previously
renewed, varied or revoked by the Company in general meeting,
expire at the conclusion of the next annual general meeting of the
Company or on the date which is 6 months after the next accounting
reference date of the Company (if earlier) save that the directors
of the Company may, before the expiry of such period, make an offer
or agreement which would or might require such securities to be
allotted after the expiry of such period and the directors of the
Company may allot such securities in pursuance of such offer or
agreement as if the authority conferred hereby had not
expired."
Following consultation with certain of its major shareholders,
the board is pleased to confirm that they support the proposed
amendment, which will be put to shareholders at the Company's AGM
at 24 Martin Lane, London, EC4R 0DR on 30 March 2017 at 9.30 a.m.
and recommends that shareholders vote in favour of the proposed
amendment and, if passed, Resolution 5 as amended.
For further information please contact:
WH Ireland Group plc www.whirelandplc.com
Richard Killingbeck, Chief Executive Officer +44(0) 20 7220
1666
SPARK Advisory Partners
Limited
Mark Brady/Miriam Greenwood +44(0) 203 368 3551/3550
This information is provided by RNS
The company news service from the London Stock Exchange
END
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