Kings Arms Yard Agm Statement
May 21 2019 - 9:53AM
UK Regulatory
TIDMKAY
Kings Arms Yard VCT PLC
LEI Code 213800DK8H27QY3J5R45
At an Annual General Meeting of Kings Arms Yard VCT PLC, duly convened
and held at the City of London Club, 19 Old Broad Street, London on 21
May 2019 the following resolutions were passed:
Ordinary resolutions numbers 1 to 7 were passed.
The following items of Special Business were passed of which resolution
8 was passed as ordinary resolution and 9 to 11 were passed as special
resolutions.
Special Business
8. Authority to allot shares
The Directors be generally and unconditionally authorised in accordance
with section 551 of the Companies Act 2006 (the "Act") to allot Ordinary
shares of nominal value 1 penny per share in the Company up to a maximum
aggregate nominal amount of GBP703,712 (representing approximately 20%
of the issued share capital as at the date of this notice) provided that
this authority shall expire 15 months from the date that this resolution
is passed, or, if earlier, the conclusion of the next Annual General
Meeting of the Company, but so that the Company may, before the expiry,
make an offer or agreement which would or might require shares to be
allotted or rights to subscribe for or convert securities into shares to
be granted after such expiry and the Directors may allot shares or grant
rights to subscribe for or convert securities into shares pursuant to
such an offer or agreement as if the authority had not expired.
9. Authority for the disapplication of pre-emption rights
That the Directors be empowered, pursuant to sections 570 and 573 of the
Act, to allot equity securities (within the meaning of section 560 of
the Act) for cash pursuant to the authority conferred by resolution
number 8 and/or sell ordinary shares held by the Company as treasury
shares for cash as if section 561(1) of the Act did not apply to any
such allotment or sale.
Under this power the Directors may impose any limits or restrictions and
make any arrangements which they deem necessary or expedient to deal
with any treasury shares, fractional entitlements, record dates, legal,
regulatory or practical problems in, or laws of, any territory or other
matter, arising under the laws of, or the requirements of any recognised
regulatory body or any stock exchange in, any territory or any other
matter.
This power shall expire 15 months from the date that this resolution is
passed or, if earlier, the conclusion of the next Annual General Meeting
of the Company, save that the Company may, before such expiry, make an
offer or agreement which would or might require equity securities to be
allotted after such expiry and the Directors may allot equity securities
in pursuance of any such offer or agreement as if this power had not
expired.
10. Authority to purchase own shares
That, subject to and in accordance with the Company's Articles of
Association, the Company be generally and unconditionally authorised,
pursuant to and in accordance with section 701 of the Act, to make
market purchases (within the meaning of Section 693(4) of the Act) of
Ordinary shares of 1 penny each in the capital of the Company ("Ordinary
shares"), on such terms as the Directors think fit, provided always
that:
(a) the maximum aggregate number of Ordinary shares hereby
authorised to be purchased is 52,743,180 shares or, if lower, such
number of Ordinary shares as shall equal 14.99% of the issued Ordinary
share capital of the Company as at the date of the passing of this
resolution (excluding any Ordinary shares held in treasury);
(b) the minimum price, exclusive of any expenses, which may be
paid for an Ordinary share is 1 penny;
(c) the maximum price, exclusive of any expenses, which may be
paid for a share shall be an amount equal to the higher of (a) 105% of
the average of the middle market quotations for the share, as derived
from the London Stock Exchange Daily Official List, for the five
business days immediately preceding the date on which the share is
purchased; and (b) the amount stipulated by Article 5(1) of the Buy-back
and Stabilisation Regulation 2003;
(d) the authority hereby conferred shall, unless previously
revoked, varied or renewed, expire 15 months from the date that this
resolution is passed or, if earlier, at the conclusion of the next
Annual General Meeting; and
(e) the Company may enter into a contract or contracts to
purchase shares under this authority before the expiry of the authority
which will or may be executed wholly or partly after the expiry of the
authority, and may make a purchase of shares in pursuance of any such
contract or contracts as if the authority conferred hereby had not
expired.
11. Authority to sell treasury shares
That the Directors be empowered to sell treasury shares at the higher of
the prevailing current share price and the price bought in at.
21 May 2019
For further information please contact:
Albion Capital Group LLP
Tel: 0207 601 1850
(END) Dow Jones Newswires
May 21, 2019 10:53 ET (14:53 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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