Bglobal PLC Result of General Meeting (7457N)

TIDMBGBL

RNS Number : 7457N

Bglobal PLC

30 July 2014

Bglobal plc ('Bglobal', the 'Group' or the 'Company')

Result of General Meeting

Bglobal plc (the "Company") announces that at the General Meeting held earlier today all of the resolutions were passed. The proxy results were as follows:

 
     Resolution                                                                               Total       Total      Total 
                                                                                            Votes For     Votes      Votes 
                                                                                                *        Against    Withheld 
 1   To approve the amendment of the articles of association of the Company                 72,651,969    2,341        0 
                                                                                             (100.00%)    (0.00%) 
    -------------------------------------------------------------------------------------  -----------  ---------  --------- 
 2   To capitalise the reserves and grant the directors authority to allot B Shares         72,651,469    2,841        0 
                                                                                             (100.00%)    (0.00%) 
    -------------------------------------------------------------------------------------  -----------  ---------  --------- 
 3   To approve the reduction of capital                                                    72,645,469    8,841        0 
                                                                                             (99.99%)     (0.01%) 
    -------------------------------------------------------------------------------------  -----------  ---------  --------- 
 4   To approve the cancellation of the Company's shares from admission to trading on AIM   72,641,469    12,841       0 
                                                                                             (99.98%)     (0.02%) 
    -------------------------------------------------------------------------------------  -----------  ---------  --------- 
 5   To approve the change of name of the Company                                           72,651,969    2,341        0 
                                                                                             (100.00%)    (0.00%) 
    -------------------------------------------------------------------------------------  -----------  ---------  ---------

* Includes discretionary votes

A further announcement will be made on 20 August 2014, the expected date of the Court hearing to approve the capital reduction. Subject to approval by the Court, it is expected that B Shares will be issued after 6.00 p.m on 22 August 2014 and each B Share will be redeemed by the Company for 11 pence by 26 August 2014 and cancelled by the Company on redemption. It is expected that the redemption proceeds will be sent to relevant Shareholders by 5 September 2014. Further details of the B Share Scheme are contained in the Circular posted to Shareholders on 2014.

It is expected that the admission of the Ordinary Shares to trading on AIM will be cancelled with effect from 7.00 a.m. on 2 September 2014. Accordingly, trading in Ordinary Shares on AIM will cease at the close of business on 1 September 2014.

Commenting on the result, John Grant, Executive Chairman stated, "I would like to reiterate my thanks to shareholders for their support".

- Ends-

For further information, please contact:

 
John Grant, Executive  Mark Taylor                  Rebecca Sanders-Hewett 
 Chairman               Laura White                  Dwight Burden 
 Tim Jackson-Smith,     Charles Stanley Securities   David Ison 
 CEO                    Nominated Adviser and        Redleaf Polhill 
 Bglobal plc            Broker                       Tel: 020 7382 4730 
 Tel: 01254 819 600     Tel: 020 7149 6000

This information is provided by RNS

The company news service from the London Stock Exchange

END

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