Business
Notice of AGM & posting of ci
Notice of AGM & posting of ci.
About this update from Btg Consulting Plc
[{"type":"text","content":"\n RNS Number : 2926R Begbies Traynor Group PLC 20 August 2010 \n \n\nBegbies Traynor Group PLC\n \n(\"Begbies\" or the \"Company\")\n \nNotice of Annual General Meeting ('AGM')\n \nProposed approval of a waiver granted by the Panel on Takeovers and Mergers (the \"Panel\") under Rule 9 of the Takeover Code in relation to the purchase of its own Ordinary Shares\n \nAuthority to make purchases of its own Ordinary Shares \n \nThe Board of Begbies Traynor Group plc, the specialist professional services organisation, announces that a circular (the \"Circular\") has today been posted to shareholders convening the Company's AGM to be held at 11 a.m. on 30 September 2010. \n \nThe purpose of the Circular is to give details to Shareholders regarding the special business to be considered at the AGM including a share purchase authority (the \"Share Purchase Authority\") to allow the Company to purchase in the market up to 25 per cent. of the Company's issued share capital, and to seek approval by Independent Shareholders of a waiver, which has been granted by the Panel, subject to the approval by independent Shareholders on a poll, of any obligation on the part of Richard Traynor to make a general offer to Shareholders under Rule 9 of the Takeover Code which might otherwise arise upon any exercise by the Company of the Share Purchase Authority (the 'Waiver' or together, the \"Proposal\").\n \nThe Circular also sets out the background to and reasons for the Proposal, including why the independent directors (being, the directors of the Company other than Richard Traynor (the \"Independent Directors\")), who have been so advised by Shore Capital, consider the Proposal to be fair and reasonable and in the best interests of the Company and its Shareholders as a whole and unanimously recommend that Independent Shareholders vote in favour of the Waiver Resolution as they intend to do in respect of their own shareholdings of 938,204 Ordinary Shares, representing approximately 1.0 per cent. of the Ordinary Shares in issue at today's date.\n \nThe Company's annual report and accounts for the year ended 30 April 2010 has also been posted to Shareholders today.\n \n \nBackground to and reasons for the proposed Share Purchase Authority\nOn 8 July 2010 the Company announced its results for the year...