Business
Annual Report & Accounts & Notification of AGM
Annual Report & Accounts & Notification of AGM.
About this update from Volex Plc
[{"type":"text","content":"\n \nRNS Number : 9459I Volex Group PLC 23 June 2011 \n \n\n \n23 June 2011\nVolex Group PLC\nPublication and posting of 2011 Annual Report & Accounts\n& Notification of Annual General Meeting\n \nVolex Group plc (the \"Company\") announces that it has posted to shareholders its 2011 Annual Report & Accounts (the \"Annual Report\") (incorporating the Notice of Annual General Meeting to be held at 10 Eastbourne Terrace, London W2 6LG on 25 July 2011 at 2.30 p.m. (the \"AGM\")), together with a Form of Proxy for use in connection with the AGM.\nA copy of the 2011 Annual Report and Form of Proxy is available on the Company's website, www.volex.com and has also been submitted to the UK Listing Authority's National Storage Mechanism and will shortly be available at www.hemscott.com/nsm.do.\nIn order to simplify the Company's capital structure, the Notice of AGM includes a proposal to cancel and repay the 7% cumulative preference shares of £1 each in the capital of the Company (the \"Preference Shares\") by means of a reduction of capital at par value, together with the accrued dividend up to and including the date on which the Preference Shares are cancelled. The proposed cancellation and repayment will require confirmation of the Court. If the resolution to cancel and repay the Preference Shares is approved at the AGM, the Company intends to apply for the cancellation of the admission of the Preference Shares to the Official List and to trading on the London Stock Exchange's market for listed securities.\nIn accordance with DTR 6.3.5, the following is provided in respect of information that was not previously made available in the Company's Preliminary Announcement of the Group Results for the financial year ended 3 April 2011 released on 1 June 2011 and has been extracted from the Annual Report in full and unedited form.\nStatement of Directors' Responsibilities\nThe Directors are responsible for preparing the Annual Report, the Directors' Remuneration Report and the financial statements in accordance with applicable law and regulations.\n \nCompany law requires the Directors to prepare financial statements for each financial year. Under that law the Directors have prepared the Group and parent Company financial statements in accordance with International Financial Reporting Standards (IFRSs) as ado...