Glenveagh Properties PLC Notice of EGM and Publication of Circular (2084U)
November 21 2019 - 6:00AM
UK Regulatory
TIDMGLV
RNS Number : 2084U
Glenveagh Properties PLC
21 November 2019
21 November 2019
Glenveagh Properties PLC
Notice of Extraordinary General Meeting and Publication of
Circular
Glenveagh Properties PLC ("Glenveagh" or the "Company"), a
leading Irish homebuilder listed on Euronext Dublin and the London
Stock Exchange, announces that it has today issued a circular to
shareholders (the "Circular") containing notice of an extraordinary
general meeting to be held at 10am on 17 December 2019 at the
offices of A&L Goodbody, IFSC, North Wall Quay, Dublin 1 (the
"EGM").
As outlined in the Company's interim result's statement dated 23
August 2019, in order to provide the flexibility to establish and
implement a capital returns policy in due course, the Directors
believe it is appropriate to initiate the process of generating the
necessary distributable reserves through a Capital
Reorganisation.
The purpose of the EGM is to approve, subject to the
confirmation of the High Court, the transfer of an amount of up to
EUR700 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.
The Circular and the form of proxy are available for inspection
on the Company's website at www.glenveagh.ie and have also been
submitted to the UK National Storage Mechanism and Euronext Dublin,
and will shortly be available for inspection at
http://www.morningstar.co.uk/uk/NSM and at the following
address:
Companies Announcements Office
Euronext Dublin
28 Anglesea Street
Dublin 2
ENDS
For further information please contact:
Investors: Media:
Glenveagh Properties Gordon MRM
PLC
Ray Gordon 087 241 7373
Michael Rice (CFO)
David Clerkin 087 830
Conor Murtagh (Director, 1779
Strategy & IR)
investors@glenveagh.ie glenveagh@gordonmrm.ie
-------------------------
Note to Editors
Glenveagh Properties PLC is a leading Irish homebuilder listed
on Euronext Dublin and the London Stock Exchange. With a focus on
strategically located developments in the Greater Dublin Area,
Cork, Limerick and Galway, the Company 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
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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