Business
General Meeting Results & Completion Of Zopa Sale
General Meeting Results & Completion Of Zopa Sale.
About this update from Trufin Plc
[{"type":"text","content":"\n \nRNS Number : 2376Y TruFin PLC 07 May 2019 \n\n \n7 May 2019 \n \nTruFin Plc\n(\"TruFin\" or the \"Company\")\n \nRESULTS OF GENERAL MEETING AND COMPLETION OF SALE OF ZOPA\n \nFurther to the announcement by the Company on 17 April 2019 (the \"Transaction Announcement\") in relation to its proposed demerger of Distribution Finance Capital Limited from the Company (the \"Demerger\") and sale of its entire stake in Zopa Group Limited (\"Zopa\") for £44.5 million, the Company is pleased to announce that all the Resolutions proposed at the General Meeting of the Company held earlier today were duly passed and the sale of its entire stake in Zopa is expected to complete later today.\n \nThe votes received in respect of the Resolutions were as follows:\n \n\n\n\nResolutions\n\n\nVotes For\n\n\n% For\n\n\nVotes Against\n\n\n% Against\n\n\nVotes Withheld\n\n\n\n\n1. To approve the demerger of Distribution Finance Capital Limited and sale of interests in Zopa Group Limited for the purposes of AIM Rule 15.\n\n\n12,990,165\n\n\n100.00\n\n\n0\n\n\n0.00\n\n\n71,885,670\n\n\n\n\n2. To:\n(i) authorise the Company's Directors to allot 50,000 redeemable shares of £1 each;\n(ii) convert the existing ordinary shares of no par value into ordinary shares of £1.90 each;\n(iii) subdivide and redesignate the ordinary shares of £1.90 each into ordinary shares of £0.91 each and B ordinary shares of £0.99 each;\n(iv) approve the terms of the proposed reduction of capital by the Company by cancellation of the B ordinary shares;\n(v) disapply pre-emption rights in relation to the allotment of the 50,000 redeemable shares; and\n(vi) amend the Company's memorandum and articles of association.\n\n\n84,875,393\n\n\n100.00\n\n\n0\n\n\n0.00\n\n\n442\n\n\n\n\n3. To authorise the Company's Directors to allot equity securities up to £29,535,088 in nominal value.\n\n\n84,875,835\n\n\n100.00\n\n\n0\n\n\n0.00\n\n\n0\n\n\n\n\n4. To disapply pre-emption rights in relation to the allotment of equity securities pursuant to resolution 3.\n\n\n84,875,835\n\n\n100.00\n\n\n0\n\n\n0.00\n\n\n0\n\n\n\n \nResolutions 2 and 4 were passed as special resolutions.\n \nAs mentioned in the Circular dated 17 April 2019, Arrowgrass was supportive of the Demerger and Zopa Transaction, and given its involvement in the Demerger and Zopa Transa...