6 Jun 2012 17:05
Press Release
For immediate release
6 June 2012
Duet Real Estate Finance Limited
Annual General Meeting results
The Board of Duet Real Estate Finance Limited is pleased to announce that at the Annual General Meeting of its shareholders held at 10.45 a.m. on 6 June 2012 the resolutions were duly passed. The details of each such resolution are as follows:
1. ORDINARY RESOLUTION | IT WAS RESOLVED to receive the annual report and audited financial statements of the Company for the period from incorporation on 7 January 2011 to 31 December 2011.
In Favour - 36,368,747 (100%)
Against - nil
Withheld - nil
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2.ORDINARY RESOLUTION | IT WAS RESOLVED to approve the remuneration report of the directors of the Company for the period ended 31 December 2011.
In Favour - 36,368,747 (100%)
Against - nil
Withheld - nil
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3.ORDINARY RESOLUTION | IT WAS RESOLVED to re-appoint PricewaterhouseCoopers CI LLP of Royal Bank Place, 1 Glategny Esplanade, St Peter Port, Guernsey as auditors of the Company to hold office from the conclusion of the Annual General Meeting until the conclusion of the next annual general meeting of the Company.
In Favour - 33,409,747 (91.9%)
Against - 2,959,000 (8.1%)
Withheld - nil
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4.ORDINARY RESOLUTION | IT WAS RESOLVED to authorise the directors to determine the remuneration of the auditors of the Company.
In Favour - 36,368,747 (100%)
Against - nil
Withheld - nil
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5.ORDINARY RESOLUTION | IT WAS RESOLVED to re-appoint Quentin Burgess as a director of the Company.
In Favour - 36,368,747 (100%)
Against - nil
Withheld - nil
|
6.ORDINARY RESOLUTION | IT WAS RESOLVED to re-appoint David Staples as a director of the Company.
In Favour - 33,409,747 (100%)
Against - nil
Withheld - 2,959,000
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7.ORDINARY RESOLUTION | IT WAS RESOLVED to re-appoint John Falla as a director of the Company.
In Favour - 36,368,747 (100%)
Against - nil
Withheld - nil
|
8.SPECIAL RESOLUTION
| IT WAS RESOLVED that the Directors be and are hereby empowered to allot equity securities (as defined in the Company's articles of incorporation (the "Articles")) for cash, and/or to sell equity securities held as treasury shares for cash, as if the pre-emption rights contained in the Articles in respect of such equity securities did not apply to any such allotment or sale, provided that this power shall be limited to:
a) the allotment and/or sale of equity securities in connection with an offer of such securities by way of a rights issue (as defined in the Articles); and
b) the allotment and/or sale of equity securities, other than pursuant to (a) above, up to a maximum aggregate number of 7,590,027 ordinary shares of no par value in the capital of the Company ("Ordinary Shares"),
and that this authority shall expire at the conclusion of the next annual general meeting of the Company (unless renewed, varied or revoked by the Company prior to or on such date), save that the Company may, before such expiry, make an offer or agreement which would or might require equity securities to be allotted or equity securities held as treasury shares to be sold after such expiry and the Directors may allot equity securities and/or sell equity securities held as treasury shares in pursuance of any such offer or agreement as if this power had not expired.
In Favour - 33,409,747 (91.9%)
Against - 2,959,000 (8.1%)
Withheld - nil
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9.SPECIAL RESOLUTION
| IT WAS RESOLVED that the Company be generally and unconditionally authorised in accordance with The Companies (Guernsey) Law, 2008 (as amended) (the "Law") to make market acquisitions (as defined in the Law) of up to 11,388,839 Ordinary Shares on such terms as the Directors think fit provided that:
a) the minimum price, exclusive of any expenses, which may be paid for an Ordinary Share is £0.01 per Ordinary Share;
b) the maximum price, exclusive of any expenses, which may be paid for each Ordinary Share is an amount equal to the higher of: (i) 105 per cent. of the average of the middle market quotations for an Ordinary Share (as derived from the Daily Official List of London Stock Exchange plc) for the five business days immediately preceding the day on which the Ordinary Share is contracted to be purchased; and (ii) the amount stipulated by Article 5(1) of the Buy-back and Stabilisation Regulation 2003;
c) such authority shall expire at the conclusion of the next annual general meeting of the Company; and
d) the Company may make a contract to purchase Ordinary Shares under this authority prior to its expiry which will or may be executed wholly or partly after its expiry and the Company may make a purchase of Ordinary Shares pursuant to any such contract after such expiry.
In Favour - 36,368,747 (100%)
Against - nil
Withheld - nil
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Notes:
·; The votes "for" the resolution are calculated as the aggregate of proxy instructions voting "for" the resolution and the votes at the Chairman's discretion.
·; A vote "withheld" is not a vote in the law and is not included in the proportion of the votes "for and "against" the resolution.
For further information, please contact:
DRC Capital LLP Dale Lattanzio Cyrus Korat
| +44 (0)20 7042 0600 |