Hirco plc Annual Report & Accounts 2011 and -2-
February 29 2012 - 1:01AM
UK Regulatory
The Board continues to communicate where possible with the
Hiranandani Family notwithstanding an opaque interfamilial legal
dispute currently under arbitration. Because the arbitration by its
nature is private, we have limited visibility into either its
substance or current procedural posture - though we have been
informed that it may be resolved this year. We are hopeful that
resolution of this dispute will improve communication with our
partners. We are also hopeful that surplus cash, as noted above,
can be disbursed from the project companies. At the same time we
are considering other ways of protecting our shareholders'
investment, including enforcing our contractual rights in an
appropriate forum.
I look forward to writing next when we release our mid-year
results.
David Burton
The Annual Report will shortly be available on the Company's
website in accordance with Rule 26 of the AIM Rules for Companies
at: http://www.hircoplc.co.im/rule_26.html.
Hirco also announces that its Annual General Meeting will be
held at 11.30 a.m. on 28th March at the offices of Cains Advocates
Limited, Fort Anne, South Quay, Douglas, Isle of Man, IM1 5PD.
Notice of the Annual General Meeting and proxy forms have been sent
to all registered shareholders and will also shortly be available
on the Hirco website (as set out above).
Contacts:
Nigel McGowan
Company Secretary
ir@hircoplc.co.im
Singer Capital Markets Limited
James Maxwell/Nick Donovan (Nominated Adviser)
James Waterlow (Sales)
+44 (0) 20 3205 7500
This information is provided by RNS
The company news service from the London Stock Exchange
END
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