24 Dec 2009 11:36
South African Property Opportunities Plc
24 December 2009
FOR IMMEDIATE RELEASE
South African Property Opportunities plc ("the Company")
24 December 2009
Re: Result of the Annual General Meeting
The Company announces that at the Annual General Meeting held earlier today, shareholders approved the following ordinary resolutions:
Resolution 1 - No payment of dividend to the holders of the ordinary shares
Resolution 2 - Mr John David Chapman was re-appointed a director of the Company
Resolution 3 - Mr Craig Justin McMurray was re-appointed a director of the Company
Resolution 4 - Mr Simon Charles Godwin was re-appointed a director of the Company
Resolution 5 - Mr David Hunter was re-appointed a director of the Company
Resolution 6 - Mr David John Saville was re-appointed a director of the Company
Resolution 7 - Re-appointment of PricewaterhouseCoopers, Isle of Man as Auditors of the Company until the conclusion of the next Annual General Meeting at a fee to be approved by the directors
SPECIAL BUSINESS
Resolution 8 - The Company generally was authorised for the purposes of Section 13 of the Companies Act 1992 to make market purchases (as defined in Section 13(2) of the said Act) of Ordinary Shares provided that:
the maximum number of Ordinary Shares thereby authorised to be purchased is 15 per cent of the Ordinary Shares in issue as at the date hereof;
the minimum price to be paid for such Ordinary Shares is the nominal amount thereof;
the maximum price (exclusive of expenses) to be paid for such Ordinary Shares is £5.00;
the authority conferred to make market purchases will (unless previously renewed or revoked) expire on the earlier of the next annual general meeting of the Company and 31 December 2010; and
under the authority conferred to make market purchases, the Company could make a contract to purchase its own Ordinary Shares prior to the expiry of such authority which would or could be executed wholly or partly after the expiry of such authority, and could make a purchase of its own Ordinary Shares in pursuance of any such contract.
Enquiries:
Paul Fincham
Matrix Corporate Capital LLP
+44 (0)20 3206 7175
Galileo Fund Services Limited
Ian Dungate/Suzanne Jones
+44 (0) 1624 692600