Last checked at 13 Mar 2014 10:28
13 March 2014
The Innovation Group plc
("Innovation Group" or the "Group")
Result of General Meeting
On 21 February 2014, Innovation Group announced the proposed Firm Placing and Placing and Open Offer of 209,375,000 New Shares at 32 pence per New Share to raise gross proceeds of £67m. The Firm Placing and Placing and Open Offer was subject, inter alia, to approval by Shareholders of the Resolutions set out in the Notice of General Meeting contained in the prospectus published on 25 February 2014.
Innovation Group is pleased to announce that each of the Resolutions proposed to Shareholders was duly passed on a show of hands at the General Meeting which took place earlier today.
Details of the proxies from shareholders in respect of each Resolution are set out below:
Total votes cast |
Withheld votes | |||||||
Resolution | For votes | % | Against votes | % | Discretion votes | % | ||
1 | 681,002,752 | 99.9 | 154,270 | 0.02 | 355,132 | 0.05 | 681,512,154 | 31,752,516 |
2 | 679,405,605 | 99.7 | 1,751,417 | 0.26 | 355,132 | 0.05 | 681,512,154 | 31,752,516 |
Notes:1. Percentages are expressed as a proportion of the total votes cast (which does not include votes withheld).2. A vote withheld is not a vote in law and is not included in the calculation of the votes "For" or "Against" the Resolutions, nor the total votes cast.3. Any proxy appointments which gave discretion to the Chairman have been included in the "For" totals.
4. Any proxy appointments which give discretion to a third party have been included in the "Discretion" totals.
The voting figures will also be displayed shortly on the Company's website www.innovation-group.com.
In accordance with paragraph 9.6.2 of the Listing Rules, two copies of the Resolutions will be submitted to the UK Listing Authority and will shortly be available for inspection at the FCA document viewing facility: http://www.morningstar.co.uk/uk/NSM.
The Firm Placing and Placing and Open Offer remain conditional, inter alia, upon Admission. Admission is expected to become effective at 8.00 a.m. on 14 March 2014.
Terms defined in the prospectus dated 25 February 2014 have the same meaning in this announcement, save where the context otherwise requires.
Enquiries:
The Innovation Group plc | Tel: +44 (0) 1489 898 300 |
Andrew Roberts, Chief Executive Officer | |
Jane Hall, Group Finance Director Louise Fisk, Head of Global Communciations
| |
Investec Bank plc | Tel: +44 (0) 20 7597 4000 |
Andrew Pinder | |
Patrick Robb | |
Rowena Murray | |
FTI Consulting | Tel: +44 (0) 20 7831 3113 |
Ed Bridges | |
Matt Dixon | |
Tracey Bowditch | |
Elodie Castagna |
About The Innovation Group:
The Innovation Group plc (LSE: TIG.L) is a global provider of business process outsourcing and software solutions to the insurance, fleet, automotive and property industries. Innovation Group provides contact centres, repair networks, process management, supply chain and technology operations and decision support analytics to support accident management, repair and estimation and claims management services.
www.innovation-group.com