Business
Result of EGM
Result of EGM.
About this update from Northamber Plc
[{"type":"text","content":"\n Northamber PLC\n03 April 2008\n\n NORTHAMBER PLC\n ('Northamber' or 'the Company')\n\n Result of EGM\n\n\nNorthamber PLC announces that at the Extraordinary General Meeting that was held\nthis morning ('EGM') the sole resolution proposed at the meeting was duly\npassed.\n\nThe Board is pleased to announce that as a result of the EGM it can return a net\namount of GBP2,938,310, or 10 pence per Existing Ordinary Share, to Shareholders\nthat it considers to be surplus to the Company's working capital requirements.\nThe Return of Cash is being made by means of a C Share structure, pursuant to\nwhich Shareholders will receive, following the Share Split, one New Ordinary\nShare and one C Share for each Existing Ordinary Share held at 5.00 p.m. on 2\nApril 2008.\n\nThe C Shares will be acquired by Walker Crips Stockbrokers Limited ('Walker\nCrips') for GBP3,064,000, representing 10 pence per C Share plus certain\nexpenses ('Expenses'). Shareholders will receive a net payment of 10 pence per C\nShare and the Expenses will be paid to a company within the same group as Walker\nCrips. It is expected that the Company will at that point enter into an option\nto buy back all of the C Shares for the same aggregate price as paid by Walker\nCrips, with the buyback being expected to complete on 11 April 2008.\n\n\nThe expected timetable is set out below:-\n\n\n\nEXPECTED TIMETABLE OF EVENTS\n\nDate of purchase of C Shares by Walker Crips 3 April 2008\n\nCREST accounts credited on 4 April 2008\n\nDespatch of cheques 8 April 2008\n\nNew Ordinary Shares admitted to the Official List and dealings\ncommence 8.00 a.m. on 4 April 2008\n\nDate of completion of buyback of C Shares by the Company 11 April 2008\n\n\n\n\n3 April 2008\n\n\nEnquiries:\n\nDavid Phillips Tel: 020 8296 7000\nChairman\nNorthamber plc\n\n\nPhilip Davies/Adam Sumner\nCharles Stanley Securities Tel: 020 7149 6000\n\n\n\n\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange RZM \n ","length":2568,"tagName":"div"}]