Strategic Equity Cap Company update - requisition
March 27 2017 - 1:00AM
UK Regulatory
TIDMSEC
This announcement contains inside information.
Strategic Equity Capital plc
27 March 2017
Company update - requisition
The Board of Strategic Equity Capital plc (the "Company") notes the press
comment over the weekend and confirms that the Company has received a request
to requisition a general meeting of the Company from two of its shareholders,
Ian Armitage and Growth Financial Services Limited, a subsidiary of Harwood
Capital Management ("Harwood"), representing 5.02 per cent. of the Company's
issued share capital (the "Requisition").
The proposed resolution Mr Armitage and Harwood wish to put to a general
meeting purports to require the Company to use all of its general buyback
authority taken at the Company's last annual general meeting on 9 November
2016, to make market purchases of its ordinary shares at not wider than a 5 per
cent. discount to the prevailing net asset value.
The Company's advisors are seeking clarification on the Requisition to enable
it to be considered further by the Board. A further announcement will be made
in due course.
Enquiries:
Richard Hills (Chairman)
0131 538 1400
PATAC Limited (Secretary)
0131 538 1400
Canaccord Genuity
Limited 020 7523 8000
Andrew Zychowski
Lucy Lewis
Buchanan
020 7466 5000
Richard Darby
Charles Ryland
END
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