Business
Billing Services Group: Corporate Action
Billing Services Group: Corporate Action.
About this update from Manx Financial Group Plc
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 7876B Manx Financial Group PLC 24 February 2011 \n \n\nFOR IMMEDIATE RELEASE 24 February 2011\n \nMANX FINANCIAL GROUP PLC\n \nBILLING SERVICES GROUP: CORPORATE ACTION\n \nManx Financial Group plc (\"MFG\") holds 1,700,000 shares in Billing Services Group plc (\"BSG\"). The carrying cost of this holding was £319,000 as at 20 June 2010.\n \nMFG has joined with Galloway Limited (a company in which Jim Mellon has an indirect life tenancy) and Jim Mellon, in submitting a requisition (through its nominee Pershing Nominees Limited) requiring the directors of BSG to convene a shareholders' meeting of BSG (the \"Requisition\") for the purposes of proposing the resolutions set out in the Requisition. \n \nThe Requisition resolutions are that:-\n \n1) Patrick D. Henegham, non-executive director, be removed as a Director of the Company pursuant to bye-law 96 of the Bye-Laws of BSG; \n \n2) Thomas H. Richter, non-executive director, be removed as a Director of the Company pursuant to bye-law 96 of the Bye-Laws of BSG;\n \n3) Admiral Leighton W. Smith, non-executive director, be removed as a Director pursuant bye-law 96 of the Bye-Laws of BSG;\n \n4) Denham Eke, be elected and duly appointed as a Director of the company pursuant to bye-laws 88 and 96 of the Bye-Laws of BSG; and \n \n5) Swen Lorenz, be elected as a director of the Company pursuant to bye-laws 88 and 96 of the Bye-Laws of BSG.\n \nJim Mellon is the Chairman of MFG and Denham Eke, the CEO of MFG, is a director of Galloway Limited.\n \nJim Mellon is directly interested in 36,557,600 shares in BSG and indirectly interested in 31,435,000 shares in BSG, including those held by MFG. The combined totals represent 24.54% of the issued capital of BSG. \n \n \n \nFor further information, please contact:\n \nManx Financial Group PLC\nDenham Eke\nTel 01624 694694\n \nBeaumont Cornish Limited\nRoland Cornish\nTel +44 (0) 20 7628 3396\n \nBritton Financial PR\nTim Blackstone\nTel 07957 140416\n\nThis information is provide...