11 Jul 2011 11:53
Result of General Meeting
WYG Plc (the "Company"), the international multi-skilled consultancy, is pleased to announce that all of the Resolutions as set out in the Circular sent to Shareholders dated 24 June 2011 (the "Circular") and proposed at today's General Meeting were approved by Shareholders on a show of hands.
The number of votes lodged by proxy for and against each of the Resolutions proposed, and the number of votes withheld was as follows:
Resolution |
Shares For |
Shares Against | Shares Withheld | ||
% | % | ||||
1. Sub-division of existing ordinary shares of £0.10 each in the capital of the Company | 30,071,805 | 99.95 | 13,892 | 0.05 | 0 |
2. Share consolidation | 30,071,805 | 99.95 | 13,892 | 0.05 | 0 |
3. Adoption of Intermediate Articles | 30,072,105 | 99.96 | 13,477 | 0.04 | 115 |
4. Authority to allot shares | 30,071,855 | 99.95 | 13,727 | 0.05 | 115 |
5. Disapplication of pre-emption rights | 30,072,436 | 99.96 | 13,261 | 0.04 | 0 |
6. Redesignation of Preference Shares | 30,073,182 | 99.96 | 12,400 | 0.04 | 115 |
7. Adoption of New Articles of Association of the Company | 30,072,321 | 99.96 | 13,261 | 0.04 | 115 |
Immediately prior to the General Meeting, there were in issue 35,289,886 ordinary shares of 10 pence each in the capital of the Company. Holders of Ordinary Shares are entitled to one vote per Ordinary Share. Votes withheld are not votes in law and so have not been included in the calculation of the proportion of votes for and against a Resolution.
Accordingly, the Company has received approval from its Shareholders to proceed with the Placing and Restructuring and, as part of this, the Share Reorganisation has taken place and the Share Consolidation will become effective tomorrow. As explained in the Circular, under the Share Reorganisation, each existing ordinary share of 10 pence each in the capital of the Company has been sub-divided into one ordinary share of 0.002 pence each and one 'B' deferred share of 9.998 pence each (the 'B' Deferred Shares will not be listed on AIM). Under the Share Consolidation, every 50 of these ordinary shares of 0.002 pence each will be consolidated into one Post-Consolidation Ordinary Share of 0.1 pence each.
Admission
Application has also been made to AIM for the admission to, and commencement of trading in, up to 705,798 Post-Consolidation Ordinary Shares and 64,000,000 New Ordinary Shares, which is expected to take place at 8.00 am on Tuesday 12 July 2011.
Completion
The remaining Restructuring Conditions Precedent, which are essentially administrative in nature, are expected to be satisfied and the Restructuring formally completed on or before 20 July 2011, at which time a further announcement will be made.
Capitalised terms in this announcement have the same meanings as in the Circular, unless the context otherwise requires or provides.
New ISIN/SEDOL
From 12 July 2011 the Company's ISIN/SEDOL will have changed to:
ISIN GB00B5N5WH70
SEDOL B5N5WH7
The Company's ticker will not change.
For further information, please contact:
WYG plc Paul Hamer, Chief Executive Office David Wilton, Group Finance Director
| Tel: 0113 278 7111 |
Arbuthnot Securities Limited Nominated Adviser and Broker Nick Tulloch/Rebecca Gordon
| Tel: 020 7012 2000 |
Numis Securities Limited Broker Stuart Skinner/Jamie Lillywhite | Tel: 020 7260 1000 |