HIGHCROFT INVESTMENTS PLC
("Highcroft" or "the Company")
Result of Annual General Meeting ("AGM")
Highcroft announces that at its AGM, which was held at 12.00 today, Resolutions 1 through 8, comprising all ordinary business proposed by the Company, were duly passed on a show of hands. Following a poll requested by the Chairman, Resolutions A through C, comprising resolutions requisitioned by certain shareholders representing at least 5 per cent. of the issued share capital of the Company, were not passed. The results of the voting by poll were as follows:
|
RESOLUTION |
FOR |
% |
AGAINST |
% |
WITHHELD |
|
A - THAT in view of the difficulty the Board is having in finding suitable investment properties for the Company to purchase, that the Board should formulate a policy for distributing excess net cash to shareholders in a tax efficient manner.- |
1,016,649 |
26.9 |
2,769,760 |
73.1 |
0 |
|
B - THAT there appears no need for the Company to retain its portfolio of equity investments which should be realised and the proceeds distributed to shareholders in a tax efficient manner. |
1,011,649 |
26.7 |
2,774,760 |
73.3 |
0 |
|
C - THAT if shareholders do not agree to the Company's equity portfolio being realised as mentioned above that the Board give consideration to the payment of a dividend to shareholders out of the income received from such portfolio. |
1,018,149 |
27.0 |
2,756,660 |
73.0 |
11,600 |
Enquiries:
John Hewitt / Roberta Miles 01865 840 023
Highcroft Investments PLC
Dugald J. Carlean / Karri Vuori 020 7149 6000
Charles Stanley Securities