Business
Result of Court Meeting and General Meeting
Result of Court Meeting and General Meeting.
About this update from Home Reit Plc
[{"type":"text","content":"\n \nRNS Number : 4172F Home Retail Group Plc 27 July 2016 \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION\nFOR IMMEDIATE RELEASE\n27 JULY 2016\nRECOMMENDED CASH AND SHARE OFFER\nFOR\nHOME RETAIL GROUP PLC\nBY\nJ SAINSBURY PLC\nRESULTS OF SHAREHOLDER MEETINGS\n \nHome Retail Group plc (\"Home Retail Group\") is pleased to announce that at the Court Meeting and General Meeting of Home Retail Group Shareholders held earlier today in connection with the recommended acquisition of Home Retail Group by Sainsbury's, all the resolutions proposed were duly passed.\nAt the Court Meeting, a majority in number of Scheme Shareholders, who voted (either in person or by proxy) and who together represented over 75% by value of the votes cast, voted in favour of the resolution to approve the Scheme. The resolution was accordingly passed. At the General Meeting, the Special Resolution to approve the Scheme and provide for its implementation was also passed by the requisite majority.\nCOURT MEETING The voting on the resolution to approve the Scheme was taken on a poll and the results were as follows:\nNumber of Scheme Shareholders voting: For: 1955 (7.5%) Against: 72 (0.28%)\nNumber of votes: For: 464,369,981 (57.10%) Against: 219,401 (0.03%)\nPercentage of eligible Scheme Shares voted : For: 57.10% Against: 0.03%\nGENERAL MEETING The voting on the Special Resolution to approve the Scheme and the Acquisition and provide for its implementation was taken on a poll and the results were as follows:\nNumber of votes: For: 380,253,949 (99.95%) Against: 194,626 (0.05%) Withheld: 2,667,650\nCompletion of the Acquisition remains subject to the satisfaction or waiver of the other Conditions set out in the Scheme Document, including the Court sanctioning the Scheme at the Court hearing which is expected to take place on 31 August 2016. Subject to the Scheme receiving the sanction of the Court on that date and the filing of the Scheme Court Order with Companies House, the Scheme is expected to become effective on 1 September 2016. Subject to the satisfaction or waiver of the remaining Conditions, completion of the Acquisition is expected to take place on 2 September 2016.\nIt is also expected that, if the C...