10 Feb 2015 07:00
10 February 2015
Chenavari Capital Solutions Limited
("Chenavari Capital Solutions" or the "Company")
Audited Financial Statements ("Report") and Notice of Annual General Meeting ("AGM")
Further to the Company's results announcement dated 29 January 2015, the Directors of Chenavari Capital Solutions confirm that the Report for the period 12 July 2013 (date of incorporation) to 30 September 2014 (the "Period") were posted to shareholders on 9 February 2015.
The Company also announces that it has posted a notice to shareholders (the "Letter") including a notice of the forthcoming AGM, to be held on 13 March 2015 at 10.00 am.
Ordinary Business
The ordinary business of the meeting includes resolutions to approve the reappointment of those Directors retiring by rotation and of the Auditors, Deloitte LLP, as auditors of the Company and to authorise and agree the remuneration of the Auditors.
In addition the current authority to repurchase ordinary shares in the Company (the "Shares") will terminate at the conclusion of the AGM. Accordingly, shareholders are invited to continue the authority granted by ordinary resolution prior to Admission by authorising the Company to make market purchases of up to 14.99% of the Shares in issue, provided that the maximum price (exclusive of expenses) which may be paid for a Share must not be more than the higher of (i) 105 per cent. of the average of the middle market quotations for a Share (as published by the London Stock Exchange) for the five trading days immediately preceding the day on which the Share is contracted to be purchased; or (ii) the amount stipulated by Article 5(1) of the Buy-back and Stabilisation Regulation. Any such purchase will be carried out in accordance with the Law, which provides inter alia, that any buy-back is subject to the Company passing the solvency test contained in the Law at the relevant time. The minimum price payable per Share is £0.01.
Notice of AGM
Shareholders will find set out at the end of the Letter a notice convening the AGM to be held at 10.00 am on 13 March 2015 at Old Bank Chambers, La Grande Rue, St Martin's, Guernsey GY4 6RT at which the ordinary resolutions referred to above will be proposed.
Action to be taken
You will find enclosed with the Letter a Form of Proxy for use at the AGM. Whether or not you propose to attend the AGM in person, you are requested to complete and sign the Form of Proxy in accordance with the instructions printed thereon and return it to the Company's registrar, Capita Registrars, PXS1, 34 Beckenham Road, Beckenham, BR3 4ZF, as soon as possible but, in any event, so as to arrive no later than 10.00 am on 11 March 2015.
The completion and return of a Form of Proxy will not preclude you from attending the AGM and voting in person if you wish to do so.
Recommendation
Your Board considers that the resolutions to be proposed at the AGM are in the best interests of shareholders as a whole and unanimously recommend that shareholders vote in favour of such ordinary resolutions.
Copies of the following documents have been submitted to the National Storage Mechanism ("NSM") and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM:
· The Report for the Period
· The Letter providing notice of the 2015 AGM
· The Proxy Form for the 2015 AGM
Each of the above mentioned documents are also now available to view on, and download from, the Company's website at http://www.chenavaricapitalsolutions.com/documents. Neither the NSM website nor the Company's website nor the content of any website accessible from hyperlinks on those websites (or any other website) is (or is deemed to be) incorporated into, or forms (or is deemed to form) part of this announcement.
Enquiries:
Kirstie McLaren
Chenavari Investment Managers
Email: Investor-relations@chenavari.com
Telephone: +44 20 7259 3600