Business
Result of General Meeting
Result of General Meeting.
About this update from Smiths News Plc
[{"type":"text","content":"\n \n \n RNS Number : 6484L\n Connect Group PLC\n 01 May 2020\n \n \n \n \n 1 May 2020\n \n \n Connect Group PLC\n \n \n (the \"Company\")\n \n \n Result of General Meeting\n \n \n \n \n \n On 15 April 2020, the Company announced that its wholly-owned subsidiary, Smiths News Holdings Limited had entered into a conditional share purchase agreement (the \"SPA\") with Palm Bidco Limited to dispose of The Big Green Parcel Holding Company Limited and each of its subsidiaries, including Tuffnells Parcels Express Limited which trades as 'Tuffnells', on a debt free, cash free basis, for aggregate deferred consideration of £15 million (the \"Transaction\"). Due to the size of the Transaction relative to the size of the Company, the Transaction constitutes a Class 1 transaction pursuant to the Listing Rules. Accordingly, under the terms of the SPA, the Transaction was therefore conditional on the approval of the Company's shareholders. \n \n \n The Company published a Circular and Notice of General Meeting also dated 15 April 2020 convening a General Meeting (\"GM\") to consider and if thought fit pass, an ordinary resolution approving the Transaction (the \"Resolution\").\n \n \n The Company announces that at its GM held at 10.00 am today, the Resolution was put to the meeting and was duly passed by shareholders voting by way of a poll. The voting results are shown below.\n \n \n \n \n \n Resolution\n \n \n \n \n For\n \n \n \n \n Against\n \n \n \n \n Withheld\n \n \n \n \n \n \n No. of votes\n \n \n \n \n %\n \n \n \n \n No. of votes\n \n \n \n \n %\n \n \n \n \n No. of votes\n \n \n \n \n \n \n 1\n \n \n \n \n To approve the Transaction\n \n \n \n \n 134,421,251\n \n \n \n \n 99.78%\n \n \n \n \n 296,335\n \n \n \n \n 0.22%\n \n \n \n \n 21,356\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 1. A \"vote withheld\" is not a vote in law and is not counted in the calculation of the percentages of the votes cast for and against a resolution.\n \n \n 2. The number of votes validly cast were in respect of 134,717,586 shares, representing 54.40% of the 247,659,200 issued share capital of the Company, being the total number of shares in issue at 6.30pm on 29 April 2020.\n \n \n 3. Where shareholders appointed the chairman of the meeting as their proxy with discretion as to voting, their votes were cast in favour of t...