REG - Close Bros Grp PLC - AGM Special Business <Origin Href="QuoteRef">CBRO.L</Origin>

Close BrothersAnnouncement

17/11/2016 18:15

RNS Number : 5166P
Close Brothers Group PLC
17 November 2016
Close Brothers Group plc 
Annual General Meeting resolutions passed
Close Brothers Group plc ("the group" or "Close Brothers") announces that at the Annual General Meeting of the group duly convened and held on Thursday 17 November 2016 at 10 Crown Place, London EC2A 4FT, the following special business resolutions of the group were passed: 
Ordinary resolution
14.ToauthorisetheBoardgenerallyandunconditionallytoallotsharesintheCompanyandtogrant rightstosubscribefororconvertanysecurityintosharesintheCompany:
(a) uptoanominalamountof12,497,366(such amounttobereducedbythenominal
amount allottedorgrantedunderparagraph (b)belowinexcessofsuchsum);and
(b) comprisingequitysecurities(asdefinedintheCompaniesAct2006)uptoanominal
amountof 24,994,732(suchamounttobereducedbyanyallotmentsorgrants
madeunderparagraph (a)above)inconnectionwithanofferbywayofarightsissue:
(1) toordinaryshareholdersinproportion(asnearlyasmaybepracticable)totheir
existing holdings;and
(2)ttoholdersofotherequitysecuritiesasrequired bytherightsofthosesecurities
orasthe Boardotherwiseconsidersnecessary, andsothat theBoardmayimposeany
limitsorrestrictionsandmakeanyarrangementswhichittconsiders necessaryor
appropriatetodealwithtreasuryshares,fractionalentitlements,record dates,legal,
regulatoryorpracticaltproblemsin,orunderthelawsof,anyterritoryoranyother matter, suchauthoritiestoapplyuntil theendofnextyear'sAnnualGeneralMeeting
(or,ifearlier,until the closeofbusinesson17February2018)but,ineachcase,
duringthisperiodtheCompanymaymake offersandenterintoagreementswhich
would,ormight,requiresharestobeallottedorrightsto subscribefororconvert
securitiesintosharestobegrantedafter theauthorityendsandtheBoard mayallot
sharesorgrantrightstosubscribefororconvertsecuritiesintosharesunderanysuchoffer 
oragreementasiftheauthorityhadnotended.
Specialresolutions
15.That,ifresolution14grantingauthoritytoallotsharesispassed,theBoardbeauthorisedtoallot equitysecurities(asdefinedintheCompaniesAct2006)forcashundertheauthoritygivenbythat resolutionand/ortosellordinarysharesheldbytheCompanyastreasurysharesforcashasif section561of theCompaniesAct2006didnotapplytoanysuchallotmentorsale,
 suchauthorityto belimitedto:
(a) allotments forrightsissuesandotherpre-emptiveissues; and
(b) theallotmentofequitysecuritiesorsaleoftreasuryshares(otherwisethanunder
paragraph(a) above)uptoanominalamountof1,874,604, suchauthority
toexpireattheendofthenextAGMoftheCompany(or,ifearlier,atthecloseof businesson17February2018)but,ineachcase,priortoitsexpirytheCompanymaymakeoffers, andenterintoagreements,whichwould,ormight,requireequitysecuritiestobeallotted(and treasurysharestobesold)aftertheauthorityexpiresandtheBoardmayallotequitysecurities(and selltreasuryshares)underanysuchofferoragreementasiftheauthorityhadnotexpired.
16.That,ifresolution14grantingauthoritytoallotsharesis passed,theBoardbeauthorisedin
 addition toanyauthoritygrantedunderresolution15toallotequitysecurities(asdefined
 intheCompaniesAct 2006)forcashundertheauthoritygivenbythatresolutionand/or
tosellordinarysharesheldbythe Companyastreasurysharesforcashasifsection561
 oftheCompaniesAct2006didnotapplyto anysuchallotmentorsale,suchauthoritytobe:
(a) limitedtotheallotmentofequitysecuritiesorsaleoftreasurysharesuptoanominal
amountof 3,749,209(excludingtreasuryshares)oftheCompanyasatthelatest
practicabledatepriorto publicationofthenoticeofmeeting];and
(b) usedonlyforthepurposesoffinancing(orrefinancing,iftheauthorityistobe
usedwithinsix monthsaftertheoriginaltransaction)atransactionwhichtheBoardof
theCompanydetermines tobeanacquisitionorothercapitalinvestmentofakind
contemplatedbytheStatementof PrinciplesonDisapplyingPre-EmptionRights
mostrecentlypublishedbythePre-EmptionGroup priortothedateofthisnotice,
 suchauthoritytoexpireattheendofthenextAGMoftheCompany(or,ifearlier,
atthecloseof businesson17February2018but,ineachcase, priortoitsexpirythe
Companymaymakeoffers, andenterintoagreements,whichwould,ormight,
requireequitysecuritiestobeallotted(and treasurysharestobesold)aftertheauthority
expiresandtheBoardmayallotequitysecurities(and selltreasuryshares) under
anysuchofferoragreementasiftheauthorityhadnotexpired.
17.ThattheCompanybeauthorisedforthepurposesofsection701oftheCompaniesAct2006to makeoneormoremarketpurchases(asdefinedinsection693(4)ofthe CompaniesAct
 2006)ofits ordinarysharesof25peach,suchpowertobelimited:
(a) toamaximumnumberof14,996,836 ordinaryshares;
(b) bytheconditionthattheminimumpricewhichmay bepaidforanordinaryshareis
thenominal amountofthatshareandthemaximumpricewhichmaybepaidfor
eachordinaryshareisthe highestof:
(1) anamountequalto5%abovetheaveragemarketvalueofanordinary
shareforthefive businessdaysimmediatelyprecedingthedayonwhichthatordinary
shareiscontractedto bepurchased;and
(2) thehigherofthepriceofthelastindependent tradeandthehighest
currentindependent purchasebidontheLondonStock ExchangeTradingSystem,
 ineachcase,exclusiveofexpenses,
suchauthoritytoapplyuntiltheendofnextyear'sAnnualGeneralMeeting(or,ifearlier,untiltheclose ofbusinesson17February2018)butduringthisperiodtheCompanymayenterintoacontractto purchaseordinaryshareswhichwillormaybecompletedorexecutedwhollyorpartlyafterthe authorityendsandtheCompanymaypurchaseordinarysharespursuanttoanysuchcontractasif theauthorityhadnotended.
18.ThatageneralmeetingotherthananAnnualGeneralMeetingmaybecalledonnotlessthan14clear days'notice.
About Close Brothers
Close Brothers is a leading UK merchant banking group providing lending, deposit taking, wealth management services and securities trading. We employ over 3,000 people, principally in the UK. Close Brothers Group plc is listed on the London Stock Exchange and is a member of the FTSE 250.
John Hudspith
Deputy Company Secretary
17 November 2016
020 7655 3100

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