Mears Group PLC Update on Requisition of General Meeting (4162U)
July 12 2018 - 1:00AM
UK Regulatory
TIDMMER
RNS Number : 4162U
Mears Group PLC
12 July 2018
12 July 2018
Mears Group PLC
("Mears" or the "Company")
Update on Requisition of General Meeting
Mears Group PLC (LSE: MER), the provider of support services to
the Housing and Care sectors in the UK, announces, further to the
Company's announcement on 6 July 2018 relating to the requisition
of a general meeting (the "Requisition"), that on 11 July 2018 it
received a further notice on behalf of Frankfurter Aktienfonds für
Stiftungen, a fund advised by Shareholder Value Management AG,
purporting to be an additional resolution to be put forward at a
general meeting of the Company's shareholders. The notice proposes
a resolution to the effect that Andy Hogarth, if appointed as a
Director, also be appointed as Chairman of the Board of Directors
of the Company.
The Company stated in its announcement on 6 July 2018 that Board
appointments are not a matter for a single shareholder and that
proper due process should be followed. Moreover, the Company's
articles of association are clear that the appointment of the
Chairman is a matter for the Board to determine. The Company has
therefore concluded that the proposed resolution would be
ineffective if passed and accordingly the resolution will not be
put to the Company's shareholders at the general meeting to be
called pursuant to the Requisition.
The Board of Directors confirms its current intention, in
accordance with section 304 of the Companies Act 2006 (the "Act"),
to call a general meeting pursuant to the Requisition in accordance
with the requirements of the Act. The Company has 21 days to call
the general meeting following the receipt of the Requisition on 4
July 2018.
Shareholders are advised to take no action at this time. Further
announcements will be made in due course.
The information contained within this announcement is considered
by Mears to constitute inside information as stipulated under the
Market Abuse Regulations (EU) No. 596/2014. Upon the publication of
this announcement, this inside information is now considered to be
in the public domain. The person responsible for arranging the
release of this announcement on behalf of the Company is Andrew
Smith, CFO.
For further information, contact:
Mears Group PLC
David Miles, Chief Executive Tel: +44(0)7778 220 185
www.mearsgroup.co.uk
Buchanan
Mark Court, Sophie Wills, Catriona Flint Tel: +44(0)20 7466 5000
mears@buchanan.uk.com
Notes for editors
Mears employs around 12,000 people and provides services in
every region of the UK. In partnership with our Housing clients, we
maintain, repair and upgrade the homes of hundreds of thousands of
people in communities from remote rural villages to large inner
city estates. Mears has extended its activities to provide broader
housing solutions to solve the challenge posed by the lack of
affordable housing. Our Care teams provide support to over 15,000
people a year, enabling older and disabled people to continue
living in their own homes.
We focus on long-term outcomes for people rather than short-term
solutions, and invest in innovations that make a positive impact on
people's quality of life and on their communities' social, economic
and environmental wellbeing.
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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