REG - Conygar Investmnt Co - Posting of Circular and Notice of GM

Conygar Investment CoAnnouncement

03/03/2022 17:30

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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 (http://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

 

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