Business
Notice of EGM
Notice of EGM.
About this update from Parkmead Group Plc
[{"type":"text","content":"\n Interregnum PLC\n30 January 2006\n\nEmbargoed until 0700hrs 30 January 2006\n\n\n\n\n\n\n\n Interregnum plc 'Interregnum'\n\n\n Proposed Increase in Authorised Share Capital\n\n Reduction of Capital\n\n Notice of Extraordinary General Meeting\n\n\n\nThe Board of Interregnum is seeking approval from shareholders to increase\nsubstantially the authorised share capital of the Company and to empower the\nDirectors to issue a large part of the authorised share capital at an EGM on\nTuesday, 21 February. These moves will provide the Board with the flexibility\nto increase the capital base of the company by issuing shares for cash and by\ncompleting acquisitions which support its strategy.\n\nInterregnum will continue to build on its base as a technology merchant bank by\nexpanding its principal finance and syndicated finance investment activities;\nand by executing higher-value corporate finance transactions.\n\nCommenting on these developments Chairman, Ken Olisa, said:\n\n'Under the leadership of our newly appointed CEO, Niall Doran, Interregnum has\nentered a new phase of growth. Interregnum's recently announced restructuring\nplan is designed to enhance both its near-term profitability; and investment and\ndeal-making processes. The Board's intention is to grow shareholder value by\ndelivering the twin priorities of reducing costs and increasing the scale of the\nGroup.'\n\n\n\nThe Board is currently in discussions relating to a potential acquisition that,\nif successfully completed, would provide Interregnum with access to a pipeline\nof prospective advisory and investment transactions. The terms of the deal have\nnot yet been finalised, but the Board is optimistic that it will be able to\nsecure the signing of a conditional acquisition agreement in the near future.\n\nThe completion of the acquisition would be conditional upon obtaining\nshareholder approval.\n\nFour resolutions will be presented to the EGM. The first two items, which are\nOrdinary Resolutions, will have the effect of increasing the authorised share\ncapital of the Company and of authorising the Board generally to allot\nadditional shares. The third item is a Special Resolution which will enable the\nCompany to allot shares for cash without requiring such shares to be first\noffered to existing Interregnum shareholders. Passing this resolution will put\nInter...