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23 Feb 2011 16:05
Swallowfield Plc
General Meeting Requisition
Swallowfield plc ("the Company") announces that on 21 February 2011 it received a requisition to hold a general meeting (the "General Meeting") from The Union Discount Company of London Limited pursuant to section 303 of the Companies Act 2006.
The object of the General Meeting is to propose resolutions that Shena Winning, together with any person appointed by the Board as a director of the Company between the date of the requisition (21 February 2011) and the General Meeting, be removed as a director of the Company (the "Resolutions").
The Union Discount Company of London Limited is the registered holders of 3,193,500 ordinary shares in the Company representing approximately 28.2% of its issued share capital.
Accordingly the Company is required within 21 days from receipt of this requisition to send to shareholders a notice convening the General Meeting, to be held not more than 28 days from the issue of the notice convening the meeting, to vote on the Resolutions.
The Union Discount Company of London Limited represents the interests of Mr Peter Gyllenhammar.
In addition the Board was notified yesterday by Mr Edward Beale, a non executive director of Western Selection plc ("Western"), that Western intends to support the resolution proposed on behalf of Mr Peter Gyllenhammar to remove Shena Winning as a director of the Company. Western has a beneficial interest in 1,837,649 ordinary shares in the Company representing approximately 16.3% of its issued share capital.
The Board is consulting with its advisers and will make a further announcement in due course.
Enquiries:
Swallowfield plc | 01823 662241 |
Ian Mackinnon - Chief Executive Officer | |
Smith & Williamson Corporate Finance | 0117 3762213 |
Nick Reeve/Martyn Fraser - Nominated Adviser | |
Barrie Newton - Broking |
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