Business
Posting of Circular and Notice of General Meeting
Posting of Circular and Notice of General Meeting.
About this update from Renew Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 5171E Renew Holdings PLC 12 February 2018 \n\nRenew Holdings plc\n(\"Renew\" or the \"Group\")\n \nPosting of Circular and Notice of General Meeting\n \nRenew (AIM: RNWH), the Engineering Services Group supporting UK infrastructure, announces that a circular (the \"Circular\") containing a notice convening a General Meeting of the Company has been posted to shareholders. \n \nThe General Meeting is to be held at the registered office of the Company at Yew Trees, Main Street North, Aberford, West Yorkshire LS25 3AA on 26 February 2018 at 4.00 p.m.\n \nThe Company held its annual general meeting on 31 January 2018 (the \"2018 AGM\"), at which all of the resolutions proposed were duly passed. Since the 2018 AGM, it has come to the attention of the Board that resolution 9, which was proposed and passed as a special resolution at that meeting, was stated to expire at the end of the 2018 AGM, that is, the meeting at which it was passed. In addition, that resolution also only gave authority to allot shares, or grant rights over shares, representing approximately five per cent. of the Company's issued share capital, whereas it is considered standard for that authority to be for an amount equal to one third of the issued share capital. As such the Company does not have in place any authority for the directors to allot shares, or grant rights over shares. The directors consider it prudent, and best practice, to have a 'standing' authority in place to allot shares, or grant rights over shares, up to an amount equal to one third of the Company's issued share capital.\n \nResolution 1 to be proposed at the General Meeting\n\nResolution 1, if passed, will grant the directors of the Company authority to allot shares, or grant rights over shares, up to an aggregate nominal amount of £2,086,382 (being approximately one third of the Company's current issued share capital as at 6 February 2018 (being the latest practicable date prior to publication of this document)). This authority, if granted, will replace and be in substitution for all existing like authorities (if any) and will expire at the conclusion of the Company's 2019 annual general meeting or on 30 April 2019, whichever is earlier. The authority being sought is in line with the Share Capital Management Guidelines issued by The Invest...