RNS Number : 3189E Irish Life & Permanent PLC 17 December 2009
IRISH LIFE & PERMANENT p.l.c.
RESULTS OF COURT MEETING AND EGM AND EXPECTED TIMETABLE FOR COMPLETION
Further to the announcement issued by Irish Life & Permanent p.l.c. on 24 November 2009 in relation to the recommended proposals for a reorganisation (the Reorganisation) of the Irish Life & Permanent group (the Group) and the posting of the Scheme Circular to the shareholders of Irish Life & Permanent p.l.c.
(the Shareholders), Irish Life & Permanent p.l.c. announces that the required majority of Shareholders voted today at the Court Meeting and the Extraordinary General Meeting (EGM) in favour of the Scheme and to implement related proposals without modification.
The result of the Poll at the Court Meeting to approve the Scheme of Arrangement was as follows:
|
|
Number of shareholders
voting in person
or by proxy
|
% of shareholders voting
|
Number of shares voted
|
% of shares voted
|
|
For
|
6,734
|
96.17%
|
73,518,230
|
99.73
|
|
Against
|
268
|
3.83%
|
200,080
|
0.27
|
At the Court Meeting, 96.17 % of those Shareholders who voted (either in person or by proxy), representing 99.73 % in value of the Irish Life & Permanent p.l.c. ordinary shares voted (either in person or by proxy), in favour of the Scheme. Accordingly, as the requisite shareholder majority have approved the Scheme, Irish Life & Permanent p.l.c. will now seek the sanction of the Scheme by the Court.
In addition, the special and ordinary resolutions proposed in the notice of the EGM included in the Scheme Circular were duly passed without modification at the Irish Life & Permanent p.l.c. EGM, which immediately followed the Court Meeting, to give effect to the Scheme and the associated reduction of capital and other ancillary proposals.
The result of the Polls at the EGM were as follows:
|
Resolution Number
|
For
|
|
Against
|
|
Total shares voted
|
|
*Total Withheld
|
|
|
Number of Shares voted
|
% of total voted
|
Number of Shares voted
|
% of total voted
|
|
|
|
|
Special Resolutions
|
|
|
|
|
|
|
|
|
1
|
73,719,450
|
99.77
|
172,807
|
0.23
|
73,892,257
|
|
1,432,659
|
|
2
|
73,636,219
|
99.71
|
212,221
|
0.29
|
73,848,440
|
|
1,450,106
|
|
3
|
73,687,382
|
99.77
|
170,523
|
0.23
|
73,857,905
|
|
1,443,262
|
|
4
|
73,707,501
|
99.77
|
168,596
|
0.23
|
73,876,097
|
|
1,436,467
|
|
5
|
73,664,370
|
99.73
|
195,889
|
0.27
|
73,860,259
|
|
1,450,866
|
|
6
|
73,710,029
|
99.78
|
164,654
|
0.22
|
73,874,683
|
|
1,436,832
|
|
|
|
|
|
|
|
|
|
|
Ordinary Resolutions
|
|
|
|
|
|
|
|
|
7
|
73,190,631
|
99.25
|
550,473
|
0.75
|
73,741,104
|
|
1,560,320
|
|
8
|
73,304,588
|
99.31
|
509,896
|
0.69
|
73,814,484
|
|
1,487,950
|
*Votes Withheld are not a vote in law and are not be counted in the calculation of the proportion of the votes "For" and "Against" the resolutions.
Copies of the resolutions passed at the Court Meeting and the EGM have been submitted to the ISE and the UKLA and, in the case of the UKLA, will shortly be available for inspection at the UKLA's documents viewing facility which is situated at the Financial Services Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS.
In order for the Scheme to become effective, the Court must now sanction the Scheme and the associated reduction of capital at the Court Hearing.
The updated timeline of the remaining principal events required to implement the Scheme is as follows:
|
Second Court Date
|
21 December 2009
|
|
Intended date for Court Hearing to approve the Scheme and
the Scheme Reduction of Capital
|
A date to be determined in mid January 2010
|
|
Intended Effective Date of the Scheme
|
A date to be determined in late January 2010.
|
|
Last day of dealings in, and registration of transfers of,
Existing Shares
|
the last Business Day before the Effective date
|
|
Intended Scheme Record Time
|
6.00 p.m. on the last Business Day before the Effective date
|
|
Effective Date
|
A date to be determined in late January 2010
|
Ciarán Long
Group Secretary
Further Information:
Ray Gordon
Gordon MRM
Ph: 01 6650452
Ph: 087 2417373
Terms defined in the Scheme Circular have the same meaning in this announcement.
This announcement does not constitute an offer to sell or an invitation to purchase or subscribe for any securities.
This information is provided by RNS
The company news service from the London Stock Exchange END REGFFSFLWSUSEIE
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