Source - LSE Regulatory
RNS Number : 6019D
Conygar Investment Company PLC(The)
03 March 2022
 

3 March 2022

 

THE CONYGAR INVESTMENT COMPANY PLC

 

(the "Company")

 

POSTING OF CIRCULAR AND NOTICE OF GENERAL MEETING

PROPOSED Disapplication of pre-emption rights and
cancellation of share premium account

 

The Company announces that it has today posted a circular to Shareholders (the "Circular") which has attached to it a notice of a general meeting of the Company to be held on 28 March 2022 (the "General Meeting").  At the General Meeting, resolutions will be put to Shareholders asking them to approve:

(a) the granting of authority to issue up to 15,000,000 ordinary shares in the Company (representing approximately 25 per cent. of the current issued share capital of the Company) free of statutory pre-emption rights, with such authority to expire on the earlier of 15 months from the passing of the resolution and the date of the next Annual General Meeting of the Company.  The Directors believe it is important, particularly given the significant further work that is necessary to progress the Island Quarter, that the Company has flexibility in terms of funding options which it is able to access quickly and efficiently.  This includes the ability to issue new equity otherwise than on a pre-emptive basis.

(b) the cancellation of the existing share premium account of the Company (£10,158,929.21) and, with the approval of the Court, for the amount cancelled to be credited to a distributable reserve, that will be distributable and available to fund dividends and other distributions to shareholders in the event that the Board determines to make any such dividends or other distributions.

A copy of the Circular is available for inspection on the Company's website at www.conygar.com.

 

Enquiries:

 

The Conygar Investment Company PLC

Robert Ware / David Baldwin                                                                                                       020 7258 8670

 

Liberum Capital Limited (Nominated Adviser and Broker)

Richard Lindley / Jamie Richards / Edward Phillips                                                                   020 3100 2222

 

Temple Bar Advisory (Public Relations)

Alex Child-Villiers                                                                                                                             07795 425580

Will Barker                                                                                                                                        07827 960151

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCBRGDXBDGDGDX
Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account. AJ Bell logo

Related Charts

Conygar Investment Company PLC (The) (CIC)

0p (0.00%)
delayed 15:57PM