13 Nov 2019 17:05
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
13 November 2019
PLUTUS POWERGEN PLC
("Plutus", the "Group" or the "Company")
Receipt of purported notice of requisition of general meeting
Plutus PowerGen plc announces that yesterday it received a letter from Jarvis Investment Management Ltd ("Jarvis"), but signed on behalf of JIM Nominees Limited ("JIM"), regarding a purported requisition to require the directors of Plutus to call a general meeting of the Company's shareholders, in accordance with section 303 of the Companies Act 2006 (the "Act") and also requesting that the text of a statement be circulated to shareholders with the notice of general meeting pursuant to section 314 of the Act.
Jarvis is not a member of the Company. JIM is a member of the Company and a holder of in excess of 5% of the Company's current issued share capital. As the authorship of the letter is unclear, the board of Plutus, having taken legal advice, are writing to Jarvis and to JIM advising both of them that the Company considers the letter to be invalid for the purposes of section 303 of the Companies Act 2006.
The purported requisition proposed that shareholders be asked to consider resolutions to remove all the current directors from the Board (being Charles Tatnall, James Longley and Tim Cottier) and to appoint Nicholas Lee, David Horner and Dr Nigel Burton to the board of the Company.
Whilst the purported requisition received yesterday has been considered invalid the Company anticipates receiving a valid requisition of general meeting from these shareholders in due course.
Should a valid requisition be received, a further announcement will be made and the Board would be required to, in accordance with the Act, call a general meeting within 21 days of receipt of the valid requisition and to provide for the general meeting to be held on a date not more than 28 days after the notice of such meeting.
In the meantime the Board recommends that shareholders take no action.
Further announcements will be made by the Company at the appropriate time.
**ENDS**
For further information, please visit www.plutuspowergen.com, or contact:
Plutus PowerGen Plc | +44 (0) 20 8720 6562 |
Charles Tatnall, Executive Chairman | |
Allenby Capital Limited (Nominated Adviser and Joint Broker) | +44 (0)20 3328 5656 |
Nick Athanas James Hornigold | |
Turner Pope Investments (TPI) Limited (Joint Broker) | +44 (0)20 3621 4120 |
Andy Thacker | |
St Brides Partners Limited (Financial PR) | +44 (0)20 7236 1177 |
Isabel de Salis |