Business
Posting of Circular and Notice of EGM
Posting of Circular and Notice of EGM.
About this update from Dci Advisors Limited
[{"type":"text","content":"\n \nRNS Number : 6733V Dolphin Capital Investors Limited 10 April 2019 \n\n10 April 2019 \nDOLPHIN CAPITAL INVESTORS LIMITED\n(\"DCI\" or \"Dolphin\" or the \"Company\"\nand together with its subsidiaries the \"Group\")\n \n \nProposed Extension Of Divestment Period, Proposed Amendments to Investment Management Agreement and\nProposed Continuation Vote\n \nPosting of Circular to Shareholders and Notice Of Extraordinary General Meeting\n \n \n1 Introduction\nThe Company was admitted to trading on AIM on 8 December 2005 as a newly incorporated, BVI registered, closed-ended investing company. At the time of Admission, the directors of the Company undertook in the Admission Document that, shortly before the tenth anniversary of the initial admission of the Company's share capital to trading on AIM (being 8 December 2015), the Board would convene a Shareholders' meeting at which a resolution (requiring more than 50 per cent. of Common Shares voting at an extraordinary general meeting of the Company) would be proposed to determine the future of the Company.\n \nOn 5 June 2015 the Shareholders of the Company passed a written resolution adopting a revised strategy (the \"June 2015 Strategy\") for the Company which envisaged that the Company would continue in existence for at least a further five years, and relieved the Board of the obligation to convene such a Shareholders' meeting by 8 December 2015.\n \nNotwithstanding the above, the Board indicated in the circular to Shareholders issued on 3 June 2015 that it was appropriate for Shareholders to have an opportunity to review the life of the Company and, although the Company would have no fixed life, the Board committed to convene and hold a Shareholders' meeting prior to 31 December 2016 at which an ordinary resolution for the continuation of the Company would be proposed.\n \nThe Board convened an EGM on 16 December 2016 at which Shareholders voted against the continuation of the Company as then constituted and approved the New Asset Strategy proposed by the Board with the objective of disposing of all of the Company's assets by 31 December 2019. The Board indicated in the relevant circular to Share holders issued on 2 December 2016 that Shareholders would be provide...