Eredene Capital PLC Result of AGM and General Meeting (8811N)
12 9월 2013 - 10:59PM
UK Regulatory
TIDMERE
RNS Number : 8811N
Eredene Capital PLC
12 September 2013
Date: 12 September 2013
On behalf of: Eredene Capital PLC ("Eredene" or the "Company")
For immediate release
Eredene Capital PLC
Result of AGM and General Meeting
Eredene Capital PLC (AIM:ERE), the AIM quoted investor in Indian
infrastructure, announces that all resolutions proposed at the
Company's Annual General Meeting (AGM), held at noon today, were
duly passed.
Struan Robertson, Chairman of Eredene updated shareholders on
the changing economic environment in India commenting: "Since the
Company's Final Results were announced on 16 July 2013, the Indian
Rupee has weakened from 89.6 Rupees to the Pound to historic lows
in excess of 106.5 Rupees as recently as the first week of
September 2013. The Company's investments are denominated in Rupees
and so this volatility has reduced the Sterling value of Eredene's
investments by almost 20%. In addition, the growth rate of the
India economy has fallen again to 4.4% p.a for the quarter ending
30 June 2013.
"Faced with both an adverse foreign exchange movement and
reduced growth in India, the Board has decided to conduct a
strategic review in order to determine the optimum realisation
strategy for the Company's investments, including the stakes in
Matheran Realty and Gopi Resorts. In addition the Company will seek
to reduce costs as appropriate. It is anticipated that the results
of that strategic review will be released in November along with
the Company's Interim Results for the six month period ended 30
September 2013."
The Board is also pleased to announce that at the General
Meeting of the Company held at 12.30pm today, the Resolutions set
out in the circular to shareholders dated 16 August 2013 (the
"Circular") to approve the proposed tender offer were duly
passed.
The Tender Offer is still conditional on the Reduction of
Capital which is described in the Circular and which also requires
Court approval. If the Court approves the Reduction of Capital at
the final hearing scheduled for 9 October 2013, it is expected that
the results of the Tender Offer will be announced on 14 October
2013.
Terms used in this announcement shall, unless the context
otherwise requires, bear the meaning given to them in the
Circular.
Expected timetable of principal events
Preliminary Court Hearing in relation 26 September 2013
to the Reduction of Capital
Final Court Hearing to approve the 09 October 2013
Reduction of Capital
Latest time and date for receipt 1.00 p.m. on 11 October
of Tender Forms 2013
from Shareholders in respect of
the Tender Offer
Record Date for participation in close of business on
the Tender Offer 11 October 2013
Results of the Tender Offer announced 14 October 2013
Settlement date - cheques despatched 15 October 2013
and CREST accounts
credited with proceeds in respect
of successfully tendered Shares
and with unsold uncertificated Shares
Balance certificates despatched week commencing 14 October
in respect of certificates tendered 2013
Enquiries:
Eredene Capital PLC
Alastair King (Chief Executive) / Gary Varley (Finance Director)
Tel: +44 20 7448 8000
Eredene Capital Advisors Private Limited
Ranveer Sharma (Managing Director) Tel: +91 22 6737 7373
Ranveer.Sharma@eredene.com
Numis Securities Limited (Nominated adviser & broker)
Heraclis Economides (Nominated Adviser) / David Benda Tel: +44
20 7260 1000
Redleaf Polhill (Financial PR)
Henry Columbine / David Ison / Hannah Fensome Tel: +44 20 7382
4720
eredene@redleafpolhill.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
RAGNKBDPNBKDOCD
Eredene Capital (LSE:ERE)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
Eredene Capital (LSE:ERE)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024
