Last checked at 19 Jun 2009 16:11
RNS Number : 2199U
Carpathian PLC
19 June 2009
Carpathian PLC
19 June 2009
Carpathian PLC
("Carpathian" or the "Company")
Annual Report & Accounts and Notice of AGM
Carpathian has published its Annual Report and Accounts for the year ending 31 December 2008 and has distributed them to Shareholders. The document is available from the Company's website, www.carpathianplc.com.
The Annual General Meeting of the Company will be held at IOMA House, Hope Street, Douglas, Isle of Man IM1 1AP at 3 p.m. on 21 July 2009.
In the preliminary announcement of the results of the Group for 2008 issued on 1 May 2009, the Board indicated that it was its intention to proceed with a change of the presentational currency of the Company from Pounds Sterling to the Euro. This requires a re-registration of the Company under Isle of Man companies law and a redenomination of the Company's share capital into Euro.
Accordingly, in addition to the business usually conducted at the Company's Annual General Meeting (namely, the adoption of the audited accounts, the re-appointment of certain Directors, the re-appointment of the Company's auditors and the granting of authorities to allot new shares), the Board has concluded that it is in the best interests of the Company and the Shareholders to propose resolutions at the Annual General Meeting approving the following additional matters:
a) the re-registration of the Company as a company governed by the Isle of Man Companies Act 2006 (it is currently incorporated under the Isle of Man Companies Acts 1931-2004) (the "Re-registration");
b) the adoption of a new memorandum of association (the "New Memorandum") and new articles of association (the "New Articles") suitable for a company governed by the 2006 Act; and
c) conditional upon the Re-registration and the adoption of the New Memorandum and the New Articles;
(i) the cancellation and reclassification as a distributable reserve of £150,000,000 of the paid up share capital of the Company (representing premium paid up on the existing issued Ordinary Shares); and
(ii) the redenomination of the par value of the Ordinary Shares from £0.01 to €0.01.
Following the redenomination of the presentational currency to the Euro, the price of the Company quoted on the London Stock Exchange will be redenominated in Euro to be consistent with the presentational currency.
The circular containing the formal notice convening the AGM, together with the form of proxy for use at the Annual General Meeting, have been enclosed with the Annual Report and Accounts sent to Shareholders.
Further information, please contact:
| Carpathian PLC | |
| Rory Macnamara, Non-Executive Chairman | Via Redleaf Communications |
| Carpathian Asset Management Limited | 020 3178 2892 |
| Paul Rogers/ Balazs Csepregi | ir@carpathianam.com |
| Collins Stewart Europe Limited | 020 7523 8350 |
| Bruce Garrow | |
| Redleaf Communications | 020 7566 6700 |
| Emma Kane/Adam Leviton/ Henry Columbine | carpathian@redleafpr.com |
This information is provided by RNS
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