13 Sep 2018 15:10
Sanne Group plc
("SANNE" or "the Company")
Sanne Group plc
13 September 2018
Sanne Group plc
("SANNE" or "the Company ")
Publication of Notice of Extraordinary General Meeting ("EGM") and Change of Registered Office
SANNE is pleased to announce that the Company has today published a Notice of EGM in connection with a proposal to amend the Company's articles of association (the "Articles"). It has been over three years since the Company was listed on the London Stock Exchange and the Company has continued to expand, both organically and by way of acquisition. As the Company continues to grow it is important that it is able to attract and retain the best people to serve as both executive and non-executive directors of the Company. In order to facilitate this goal, it is proposed that the Articles be amended to remove the current requirement that a majority of the Company's directors be resident outside the United Kingdom together with other consequential amendments. These amendments, if approved, will materially open up the pool of potential talent from which the Company can draw. In addition, to provide the Board with as much flexibility as possible with regard to the holding of meetings and conducting the business of the Company, it is also proposed that the Articles be amended to remove the absolute restriction on holding board meetings in the United Kingdom.
In addition, following a review of the Articles generally, including in light of the UK Listing Rules and Corporate Governance Code, it is proposed that it be formalised by way of amendment of the Articles that all of the directors of the Company resign at each annual general meeting and offer themselves for re-appointment, as opposed to the current obligation in the Articles for certain directors to retire by rotation at each annual general meeting.
Furthermore, in order to benefit from potential future technology, it is proposed that the directors should have the flexibility in the future to hold electronic general meetings in addition to, but not instead of, physical general meetings and the Resolution contains amendments to the Articles that will provide this flexibility.
Notice of an EGM of the Company is therefore given, with the EGM to be held at IFC 5, St Helier Jersey, JE1 1ST at 14.30 on 1 October 2018 for the purpose of considering, and if thought fit, approving the proposal to amend the Articles. A copy of the Notice convening the EGM, which has been posted to shareholders today, is also available to view on the Company's website at www.sannegroup.com.
The Company also announces that its registered office has been changed to:
IFC 5, St Helier, Jersey JE1 1ST
For and on behalf of Sanne Group plc
Enquiries:
SANNE Group plc
Ian Portal, Company Secretary Tel + 44 (0) 203 911 1048
Notes:
SANNE is a leading global provider of alternative asset and corporate services. Established for over 30 years and listed as a FTSE 250 company on the Main Market of the London Stock Exchange, SANNE employs more than 1,300 people worldwide and administers structures and funds that have in excess of £200 billion of assets.
Key clients include alternative asset managers, financial institutions, family offices, ultra-high net-worth individuals and corporates.
SANNE operates from a global network of offices located in leading financial jurisdictions, which are spread across the Americas, Europe, Africa and Asia-Pacific.
www.sannegroup.com