Result of EGM
June 26 2007 - 12:14PM
UK Regulatory
RNS Number:0756Z
Highland Timber PLC
26 June 2007
HIGHLAND TIMBER P.L.C. ("the Company")
26 June 2007
RESULT OF EXTRAORDINARY GENERAL MEETING ("EGM")
The Company announces the results of the EGM, held earlier today, in relation to
the proposed disposal of the Company's Forest Assets and approval of the
Company's Investing Strategy, as detailed in the circular to Shareholders dated
4 June 2007.
Resolution 1 - approval of the proposed sale of the Company's Forest Assets to
FIM Timber Growth Fund IV ("FIM") for a cash consideration of #9,900,000:
The Resolution was defeated by a show of hands and has therefore not been
approved by Shareholders. For information, the proxy votes received were
as follows:
Votes for Votes against Discretionary Withheld
352,996 (5.0%) 6,481,980 (90.9%) 257,223 (3.6%) 38,500 (0.5%)
Resolution 2 - approval of the Company's proposed Investment Strategy (voting
on this resolution was by way of a poll):
Votes for Votes against
5,345,801 (67.0%) 2,627,247 (33.0%)
Resolution 2 has therefore been passed by Shareholders.
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
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