Business
Posting of Circular and Change of Name of Nomad
Posting of Circular and Change of Name of Nomad.
About this update from Volvere Plc
[{"type":"text","content":"\n \nRNS Number : 4818P Volvere PLC 25 October 2012 \n\nVolvere plc\n(the \"Company\")\n \nPosting of Circular and Change of Name of Nomad\n \nCapitalised items in this announcement carry the same meaning as in the Circular, except where otherwise defined here. \n \nPosting of Circular\n \nThe Board of Volvere plc (AIM:VLE), the turnaround investment company, announces that a circular (the \"Circular\") has been posted to Shareholders today convening a General Meeting of the Company to be held at 2 p.m. on 19 November 2012 at the Company's offices at York House, 74-82 Queen Victoria Street, London EC4N 4SJ (the \"GM\") . The Circular sets out the background to and reasons for the Proposals to be put to Shareholders at the GM and contains a recommendation from the Independent Director to vote in favour of the Proposals, which are as follows:\n \n1. to seek the approval by independent Shareholders of a waiver, which has been granted by the Panel on Takeovers and Mergers, subject to the approval at the GM by independent Shareholders on a poll, of any obligation on the part of the Concert Party (Jonathan Lander and Nicholas Lander) to make a general offer to Shareholders under Rule 9 of the Takeover Code which might otherwise arise upon any exercise by the Company of the Share Purchase Authority (the \"Waiver\"); and\n \n2. to seek Shareholder approval for the Company to purchase in the market up to 50 per cent. of the issued Ordinary Shares of the Company (\"Share Purchase Authority\").\n \nThe Circular sets out the background to and reasons for the Proposals and states that the Independent Director of the Company (David Buchler), having been so advised by N+1 Singer, considers the Proposals to be in the best interests of the Company and its Shareholders as a whole and recommends that the Independent Shareholders (being shareholders of the Company other than the Concert Party) vote in favour of both of the Resolutions and that all Shareholders vote in favour of Resolution 2. The Independent Director intends to vote his own beneficial shareholding of 129,893 Ordinary Shares, representing approximately 2.70 per cent. of the Ordinary Shares in issue at the date of this announcement, in favour of the Resolutions.\n \nFurther information relating to the Pr...