Electra Private Equity PLC Results of General Meeting (7292F)
October 30 2018 - 6:29AM
UK Regulatory
TIDMELTA
RNS Number : 7292F
Electra Private Equity PLC
30 October 2018
FOR IMMEDIATE RELEASE
Electra Private Equity PLC
Results of General Meeting
30 October 2018
The Board of Electra Private Equity PLC (the "Company") is
pleased to announce that, at the general meeting held today, the
Company's shareholders voted to pass the ordinary resolution to
adopt, with immediate effect, a new investment objective and
investment policy as set out in Part 1 of the circular to
shareholders of the Company dated 4 October 2018 in substitution
for the Company's previous investment objective and policy.
The resolution was voted on by way of a poll and the result was
as follows:
Result of poll
Proportion
of the issued
share capital
of the Company
represented
Votes Votes by all votes Votes
Resolution For %(1) Against %(1) Votes total (%)(1) Withheld(2)
To adopt
the new investment
objective
and investment
policy 30,177,411 99.85 45,705 0.15 30,223,116 78.95% 715
----------- ----- --------- ---- ----------- --------------- -------------
1 Percentages are expressed as a proportion of the total votes cast.
2 A vote withheld is not a vote in law and is not counted
towards the votes "For" or "Against" the Resolutions, nor in the
calculation of the total votes cast.
The passing of this resolution means that new investment
objective and policy of the Company from the date of this
announcement shall be as follows:
"Electra's investment objective is to follow a realisation
strategy which aims to crystallise value for shareholders, through
balancing the timing of returning cash to shareholders with
maximisation of value.
The Company will not make any new investments but will continue
to support its existing investments to the extent required in order
to optimise returns.
The Company will retain sufficient cash to meet its obligations
and to support its portfolio assets, with cash from realisations
being invested in AAA rated money market funds pending utilisation
or return to shareholders.
Should it be appropriate to utilise gearing in order to optimise
the balance between timing of returning cash to shareholders and
maximisation of value the Company will maintain gearing below 40%
of its total assets."
The results of the general meeting (including this information)
will shortly be available on the Company's website at
www.electraequity.com.
In accordance with the UK Financial Conduct Authority's Listing
Rules, a copy of the Resolution will shortly be submitted to the
National Storage Mechanism and will be available at
www.morningstar.co.uk/uk/NSM.
Eleanor Cranmer
Frostrow Capital LLP
Company Secretary to Electra Private Equity PLC
020 3008 4613
For further information, please contact:
Electra Private Equity PLC
Gavin Manson, Chief Financial Officer 020 3874 8300
Greenhill
David Wyles / Brenlen Jinkens / Michael Lord 020 7198 7400
Brunswick Group
Gil Ackers / Kim Fletcher 020 7404 5959
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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