Last checked at 14 Jul 2020 07:00
City of London Investment Group PLC
14 July 2020
The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
City of London Investment Group PLC
("City of London" or the "Company")
Result of General Meeting
City of London announces that at the General Meeting of the Company held on 13 July 2020, to approve resolutions related to the merger with KMI, all resolutions were duly passed.
A breakdown of these proxy votes lodged prior to the General Meeting in respect of the resolutions is summarised below:
| In Favour* | Against | Abstain |
Resolution 1 - To approve the Merger.
| 10,965,509 | 21,406 | 5,642 |
Resolution 2 - To approve the allotment of up to 24,118,400 New Shares in connection with the Merger.
| 10,959,345 | 27,570 | 5,642 |
Resolution 3** - To approve the Whitewash.
| 10,846,983 | 108,196 | 37,378 |
*Includes discretionary votes
** Taken on a poll
Following the passing of Resolution 3, being the Whitewash Resolution by Independent Shareholders approving the waiver by the Takeover Panel under Rule 9 of the Takeover Code, on Completion of the Merger, the members of the Concert Party will hold in aggregate, up to a maximum of 19,145,222 Shares representing 37.8 per cent. of the Enlarged Share capital (further details of which are set out in paragraph 7.4 of Part IX of the Circular).
Notwithstanding the Waiver, the individual members of the Concert Party will not be able to increase their percentage shareholding through or between a Rule 9 threshold without the consent of the Takeover Panel. In addition, neither the Concert Party nor any other person acting in concert with it will be restricted from making an offer for the Company. In accordance with Listing Rule 9.6.3 (1), copies of the resolutions (other than those resolutions comprising ordinary business) have been made available for inspection on the National Storage Mechanism at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
All capitalised terms in this announcement, but not defined herein, have the meaning given to them in the combined prospectus and circular published by the Company on 12 June 2020, unless otherwise defined herein.
For further information, please visit www.citlon.co.uk or contact:
Tom Griffith (CEO)
City of London Investment Group PLC
Tel: 001 610 380 0435
Martin Green/Daniel Harris
Zeus Capital Limited
Financial Adviser & Broker
Tel: +44 (0)20 3829 5000