SuperGroup Regulatory News (SGP)

20 Dec 2005 12:44

Sanctuary Group PLC20 December 2005 20 December 2005 The Sanctuary Group plc Results of EGM on Serious Loss of Capital and EGM on Borrowing Limits The Sanctuary Group plc (the "Company") held two Extraordinary General Meetingstoday (Tuesday 20th December 2005). At the EGM to discuss the Serious Loss of Capital, the Board of the Companyoutlined to shareholders the steps it has undertaken to address the issue. Therewere no resolutions put to this meeting. At the EGM to discuss the Company's Borrowing Limits, the following Resolutionwas passed: That: 1. the existence and continued existence of the borrowings andindebtedness in the nature of borrowings, and any guarantee, indemnity, mortgageand/or charge in respect thereof, currently outstanding and undischarged inrespect of the Company (including its £30 million Convertible Loan Notes due2008 and the various facilities provided on or before the date hereof to theCompany by the Governor and Company of the Bank of Scotland), includingborrowings which are repaid and redrawn pursuant to the terms thereof be and arehereby ratified; 2. the Board be and is hereby authorised, subject as provided below, toexercise all the powers of the Company to borrow money, to guarantee, toindemnify and to mortgage or charge its undertaking, property, assets (presentand future) and uncalled capital and to issue debentures and other securitieswhether outright or as collateral security for any debt, liability or obligationof the Company or of any third party, so that the aggregate amount for the timebeing remaining undischarged of all moneys borrowed by the Company and/or any ofits subsidiaries (exclusive of moneys borrowed by the Company from and for thetime being owing to any such subsidiary or by any such subsidiary from and forthe time being owing to the Company or another such subsidiary) will not exceed£490,020,000 in principal amount (plus any interest, fees or expenses inconnection therewith) notwithstanding that the aggregate amount for the timebeing remaining undischarged of all moneys borrowed by the Company and/or any ofits subsidiaries (exclusive of moneys borrowed by the Company from and for thetime being owing to any such subsidiary or by any such subsidiary from and forthe time being owing to the Company or another such subsidiary) will exceed thelimit set out in Article 114.1 of the Company's Articles of Association;provided that such borrowing shall be authorised only until the conclusion ofthe Company's next Annual General Meeting; 3. the Board be authorised to agree to such amendments to the terms ofany of its existing borrowings or indebtedness in the nature of borrowings asthe Board may in its absolute discretion think fit and the Board be authorisedto execute and do all such acts, deeds, documents, certificates and notices asit may consider expedient in connection with such borrowings or indebtedness inthe nature of borrowings. Ends For further information, please contact: Philip RangerDirector, Corporate & Investor Relations Sanctuary 0207 300 1323 This information is provided by RNS The company news service from the London Stock Exchange