TIDMJLEN
RNS Number : 4758H
John Laing Environmental Assets Grp
17 August 2016
17 August 2016
JOHN LAING ENVIRONMENTAL ASSETS GROUP LIMITED
Results of AGM
John Laing Environmental Assets Group Limited ("JLEN" or the
"Company") is pleased to announce that at the Annual General
Meeting ("AGM") held at 10:00 a.m. today, 17 August 2016, each of
the Resolutions was duly passed without amendment.
In accordance with LR 9.6.18, details of the results of those
resolutions proposed at the AGM, which were not ordinary business
of the AGM, follow:
Resolution For (including discretionary) Against Withheld*
7 - Ordinary 177,708,673 - -
8 - Ordinary 177,708,673 - -
9 - Special 177,708,673 - -
10 - Special 176,506,173 1,202,500 -
*A vote withheld is not a vote in law and is therefore not
counted towards the proportion of votes "for" or "against" the
Resolution.
The full wording of these resolutions can be found below:-
Resolution 7 - Ordinary Resolution
That the interim dividend of 3.027 pence per Ordinary Share in
respect of the period 1 April 2015 to 30 September 2015, the
interim dividend of 1.5135 pence per Ordinary Share in respect of
the period 1 October 2015 to 31 December 2015 and the interim
dividend of 1.5135 pence per Ordinary Share in respect of the
period 1 January 2016 to 31 March 2016 declared by the Company be
approved.
Resolution 8 - Ordinary Resolution
That, in accordance with Article 45 of the Articles of
Incorporation of the Company (the "Articles"), the Board may, in
respect of dividends declared for any financial period or periods
of the Company ending prior to the annual general meeting of the
Company to be held in 2017, offer shareholders the right to elect
to receive further shares, credited as fully paid, in respect of
all or any part of such dividend or dividends declared in respect
of any such period or periods.
Resolution 9 - Special Resolution
1. That the Company be and is hereby generally and
unconditionally authorised in accordance with Section 315 of The
Companies (Guernsey) Law, 2008 (as amended) (the "Law") (subject to
the UK Listing Rules and all other applicable legislation and
regulations) to make market acquisitions (as defined in the Law) of
its Ordinary Shares in issue, provided that:-
a. the maximum number of Ordinary Shares hereby authorised to be
purchased is 14.99 per cent. per annum of the Ordinary Shares in
issue immediately following the passing of this resolution;
b. the minimum price (exclusive of expenses) which may be paid
for an Ordinary Share is 1 pence;
c. the maximum price (exclusive of expenses) which may be paid
for an Ordinary Share shall be not more than the higher of (i) 5
per cent. above the average market value for the five business days
prior to the day the purchase is made and (ii) the higher of the
price of the last independent trade and the highest independent bid
at the time of the purchase for any number of the Ordinary Shares
on the trading venues where the purchase is carried out;
d. the authority hereby conferred shall expire at the conclusion
of the next annual general meeting of the Company held in 2017 or
18 months from the date of this resolution, whichever is the
earlier, unless such authority is varied, revoked or renewed prior
to such time;
e. the Company may make a contract to purchase Ordinary Shares
under the authority hereby conferred prior to the expiry of such
authority which will or may be executed wholly or partly after the
expiration of such authority and may make an acquisition of
Ordinary Shares pursuant to any such contract; and
f. any Ordinary Share bought back may be held in treasury in
accordance with the Law or be subsequently cancelled by the
Company.
Resolution 10 - Special Resolution
That pursuant to Article 7.7 of the Articles, the provisions of
Article 7.2 of the Articles shall not apply and shall be excluded
in relation to the issue of up to an aggregate number of Ordinary
Shares as represents less than 10 per cent. of the number of
Ordinary Shares admitted to trading on London Stock Exchange plc's
main market for listed securities immediately following the passing
of this resolution, provided that such disapplication and exclusion
shall expire on the date which is 18 months from the date of the
passing of this resolution or, if earlier, at the conclusion of the
next annual general meeting of the Company following the date of
the passing of this resolution (unless previously renewed, revoked
or varied by the Company by special resolution) save that the
Company may before such expiry make an offer or agreement which
would or might require Ordinary Shares to be allotted after such
expiry and the Directors may allot Ordinary Shares in pursuance of
such an offer or agreement as if the disapplication and exclusion
conferred hereby had not expired.
ENDS
For further information please contact:
John Laing Capital Management
Limited
David Hardy +44(0)20 7901
Chris Tanner 3559
Winterflood Securities Limited
Joe Winkley +44(0)20 3100
Neil Langford 0000
Praxis Fund Services Limited
Matt Falla +44(0)14 8173
Janine Lewis 7600
Redleaf Communications
Charlie Geller +44(0)20 7382
Sam Modlin 4769
About JLEN
JLEN's investment policy is to invest in environmental
infrastructure projects that have the benefit of long-term,
predictable, wholly or partially inflation-linked cash flows
supported by long-term contracts or stable regulatory
frameworks.
Environmental Infrastructure is defined by the Company as
infrastructure projects that utilise natural or waste resources or
support more environmentally-friendly approaches to economic
activity. This could involve the generation of renewable energy
(including solar, wind, hydropower and biomass technologies), the
supply and treatment of water, the treatment and processing of
waste, and projects that promote energy efficiency.
Further details of the Company can be found on its website
www.jlen.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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