1 Nov 2021 12:14
Electra Private Equity PLCResults of General Meeting
1 November 2021
The Board of Electra Private Equity PLC (the "Company") is pleased to announce that at its general meeting held today (the "General Meeting") the resolutions relating to the distribution in specie pursuant to which the Hostmore Group will be demerged from the Company through the Demerger Dividend, on the terms and subject to the conditions set out in the Demerger Agreement (the "Demerger Resolution") and the adoption of the Hostmore Long Term Incentive Plan ("LTIP") with effect from Admission, the proposed principal terms of which are set out in section 2 of Part VII "Additional Information" of the Circular dated 15 October which was sent to shareholders (the "LTIP Resolution"), were both passed as ordinary resolutions.
The Demerger Resolution and the LTIP Resolution were voted on by way of a poll and the results were as follows:
Result of poll
Resolution | Votes For | %1 | Votes Against | %1 | Votes total | Proportion of the issued share capital of the Company represented by all votes (%)1 | Votes withheld2 |
Demerger Resolution | 28,187,934 | 99.97% |
7,895 |
0.03% |
28,195,829 |
72.35 |
2,388 |
LTIP Resolution | 27,570,358 | 99.27% |
201,365 |
0.73% |
27,771,723 |
71.26 |
426,494 |
Any proxy votes which were at the discretion of the chairman of the General Meeting have been included in the "for" total.
1 Percentages are expressed as a proportion of the total votes cast.
2 A vote withheld is not a vote in law and is not counted towards the votes "For" or "Against" the Resolutions, nor in the calculation of the total votes cast.
The results of the General Meeting (including this information) will shortly be available on the Company's website at www.electraequity.com.
A copy of the Resolutions will shortly be submitted to the Financial Conduct Authority's Electronic Submission Service and can then be viewed on the National Storage Mechanism (NSM) at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
Unless the counterparties specifically agree otherwise, a buyer of the Company's Ordinary Shares ahead of the Ex-Date will assume the benefit to the Demerged shares, and the seller would need to pass the benefit to the buyer, even if the seller is the recorded owner at the Record Date.
-ENDS-
For further information please visit www.electraequity.com or contact:
Gavin MansonChief Financial and Operating OfficerElectra Private Equity PLC17 Old Park LaneLondonW1K 1QTTel: 44 (20) 3874 8300