Business
Result of EGM
Result of EGM.
About this update from Telecom Plus Plc
[{"type":"text","content":"\n Telecom Plus PLC\n23 March 2006\n\n\n23 March 2006\n\n\n Telecom plus plc (the 'Company')\n\n\n Result of EGM\n\n\n and\n\n\n Grant of options over Director's Existing Shares\n\n\nAt the Extraordinary General Meeting of the Company, which took place earlier\ntoday, the resolution put to Shareholders in order to effect the proposed\narrangements with Npower Limited ('npower') announced on 16 February 2006 and\ncontained in the circular to shareholders dated 7 March 2006 was duly passed.\n\n\nConsequently Telecom plus plc has been notified today that Charles Wigoder and\npersons connected with him, have on 23 March 2006 granted npower an option to\nacquire part of his shareholding in the Company in which he is interested\namounting in aggregate to 2,982,500 ordinary shares, representing approximately\n4.4 per cent. of the existing issued share capital of the Company. As a result,\nnpower now has an option over 19,857,711 existing ordinary shares representing\n29 per cent. of the issued share capital.\n\n\nThis option is exercisable in the six months following publication of the\nCompany's results for the year ending 31 March 2009. The price per ordinary\nshare payable by npower on exercise of the option is equal to four times EBITDA\nfor the year ending 31 March 2008 plus eight times the EBITDA for the year\nending 31 March 2009 (net of cash and debt) divided by the number of ordinary\nshares in issue at the time of exercise of the call option, or market value if\nhigher (based on the average closing price for the preceding 20 dealing days).\n\n\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":1803,"tagName":"div"}]