Business
EGM Statement
EGM Statement.
About this update from R.e.a. Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 6191S R.E.A.Hldgs PLC 25 September 2014 \n \n\nR.E.A. Holdings plc (\"REA\" or the \"company\")\n \nResult of extraordinary general meeting and progress of capitalisation issue\n \nREA announces that at an extraordinary general meeting of the company held earlier today, the two resolutions set out in the notice of meeting, as included in the circular to shareholders dated 26 August 2014 (the \"circular\"), were duly passed on a show of hands. The resolutions provided necessary authorities for the proposed capitalisation issue by REA that was announced on 26 August 2014 (the \"capitalisation issue\").\n \nPursuant to the capitalisation issue, ordinary shareholders will be allotted new 9 per cent cumulative preference shares of £1 each in the capital of REA (\"new preference shares\") on the basis of three new preference shares for every 50 ordinary shares of 25p each in the capital of REA held at the close of business on 25 September 2014. An arrangement (the \"sale arrangement\") will be made whereby REA will (except to the extent that allottees have otherwise elected) aggregate all new preference shares comprised in allotments of 1,000 or fewer new preference shares and sell the resultant aggregated holding on behalf of the relative allottees (subject to achievement of a minimum gross price of 100p per share).\n \nThe capitalisation issue is now conditional only upon the admission of the new preference shares to the Official List and to trading on the London Stock Exchange's market for listed securities. It is expected that admission will become effective and that dealings in the new preference shares will commence on 26 September 2014.\n \nUpon completion of the capitalisation issue, REA's issued share capital will comprise 35,085,269 ordinary shares of 25p each and 59,420,232 9 per cent cumulative preference shares of £1 each. The number of votes that may ordinarily be cast on a poll at a general meeting of REA and attaching to such ordinary shares is 35,085,269 and to such preferences shares is nil. 94,000 shares in the issued capital of REA are currently held in treasury.\n \nThe above figures may be used by REA shareholders for the calculations by which they determine whether they are required to notify their interest in, or a change in the...