29 Apr 2009 14:43
JJB Sports PLC
Result of General Meeting
Further to the announcement earlier today concerning the approval of the CVA Proposal by shareholders, a General Meeting of JJB Sports PLC ("JJB" or the "Company") was held this afternoon. The purpose of this meeting (as set out in the shareholder circular and Notice of General Meeting sent to shareholders on 6 April 2009) was for shareholders to consider and, if thought fit, to approve the disapplication of pre-emption rights so that the Company may issue warrants to an affiliate of Bank of Scotland.
The Board of the Company is pleased to announce that the special resolution granting the Directors authority to issue warrants without complying with pre-emption rights conferred by the Companies Act 1985 was approved at the General Meeting by the requisite majority of shareholders. Details of the results of the voting (which was carried out by poll) are set out at the end of this announcement.
As announced previously, the warrants will only be issued if the new facility with Bank of Scotland becomes unconditional. The new facilities entered into by the Company with Barclays and Bank of Scotland on 3 April 2009 will only become available to the Company following the approval and implementation of the CVA Proposal. The CVA Proposal has now been approved by creditors and shareholders, but will only be implemented following the expiry of the 28 day challenge period, which is expected to occur on or around 28 May 2009.
An announcement will be made and CVA creditors will be notified in due course of the occurrence of the CVA implementation date.
Voting results:
Voting on the special resolution to grant the Directors authority to issue warrants without complying with the pre-emption rights conferred by the Companies Act 1985 was carried out by poll:
| For the special resolution | Against the special resolution | |
| Number of votes cast | 84,647,285 | 46,823 |
| % of votes cast | 99.94% | 0.06% |
As required by the Listing Rules, two copies of the special resolution passed at the General Meeting have been submitted to the UK Listing Authority and will be available for inspection through the UK Listing Authority's Document Viewing Facility, which is situated at the Financial Services Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS.
For further information, please contact:
| JJB Sports PLC | 01942 221 400 |
| Sir David Jones | |
| Peter Williams | |
| Maitland | 020 7379 5151 |
| Neil Bennett | |
| Emma Burdett | |