GLENVEAGH PROPERTIES PLC RNS Number : 1965X
Glenveagh Properties PLC
17 December 2019
17 December 2019
Result of Extraordinary General Meeting
Glenveagh Properties PLC ("Glenveagh" or the "Group") a leading Irish homebuilder listed on Euronext Dublin and theLondon Stock Exchange announces that the resolution proposed at the Extraordinary General Meeting ("EGM") held todayto approve, subject to confirmation by the High Court, an increase of the distributable reserves of the Company by the transfer of an amount of up to€700 million from the Company's undistributable reserves (namely the share premium account) to the distributable reserves of the Company by means of a cancellation under the Companies Act 2014 of a corresponding amount of the share premium account, has been duly passed.
Full details of the resolution were set out in the Notice of EGM, circulated to shareholders on21 November 2019. The Notice of EGM is available on the Group's website (www.glenveagh.ie).
Voting on the resolution was conducted by poll, and the details of the poll vote are set out below:
VOTES FOR | VOTES | VOTES | |||
Resolution | AGAINST | WITHHELD | |||
No. | % | No. | % | No. | |
Subject to the | |||||
confirmation of the High | |||||
Court, €700 million of the | |||||
amount standing to the | |||||
credit of the Company's | |||||
share premium account | |||||
on the date immediately | |||||
preceding the passing of | 600,650,392 | 100% | 0 | 0% | 0 |
this resolution, or such | |||||
lesser amount as the | |||||
High Court may | |||||
determine, be cancelled | |||||
and extinguished such | |||||
that the reserve resulting | |||||
from such cancellation be | |||||
treated as profits | |||||
available for distribution. |
Note: Any proxy appointments which gave discretion to the Chairman have been included in the 'For' totals.
Note to Editors
Glenveagh Properties PLC is a leading Irish homebuilder listed on Euronext Dublin and theLondon Stock Exchange. With a focus on strategically located developments in the Greater Dublin Area, Cork, Limerick and Galway, the Group comprises two complementary divisions, Glenveagh Homes and Glenveagh Living.
Glenveagh Homes delivers high quality starter homes to its private and institutional customers with selective developments of mid- size and executive houses and apartments in areas of high demand.
Glenveagh Living delivers houses and apartments for the public sector and institutional investors. Its Partnerships business focusses on mixed-tenure and joint venture opportunities with the public sector in Ireland, while its PRS business delivers large-scale private rental product for institutional investors.
www.glenveagh.ie
ENDS
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END
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Glenveagh Properties plc published this content on 17 December 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 December 2019 14:30:02 UTC
