REG - Logistics Dev Grp - General Meeting Requisition Notice

Logistics DevelopmentAnnouncement

04/09/2024 07:00

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RNS Number : 7787C  Logistics Development Group PLC  04 September 2024

4 September 2024

 

Logistics Development Group plc

 

("LDG" or the "Company")

 

General Meeting Requisition Notice

 

Logistics Development Group plc, the AIM-quoted investing company, announces
that it has received a requisition notice ("Notice") dated 2 September 2024
from Huntress (CI) Nominees Limited a/c KGRIG, in respect of 35,972,566
ordinary shares, representing approximately 6.86% of the Company's issued
ordinary shares, requesting the Company's board of directors (the "Board") to
convene a general meeting ("Requisitioned GM") under section 303 of the
Companies Act 2006, as amended (the "Act").

 

A further announcement will be made in due course once the Board has
considered the Notice and the proposed resolutions. In the meantime, the Board
advises shareholders to take no action at this stage.

 

The Notice sets out three resolutions to be proposed at the Requisitioned GM,
which are set out below.

 

Proposed Resolution 1: That the investing policy be amended to read as
follows: "The Company will cease making new investments and prioritise the
timely return of capital to shareholders. The Company will seek to protect
value and deliver an orderly realisation of illiquid investments. The Company
will apply available cash balances and liquid investments to support the
return of capital to shareholders in a timely and efficient manner. The
Company will rationalise operating expenses as far as practical to maximise
free cash available for distribution to shareholders."

 

Proposed Resolution 2: That the Company shall not, whether by act or omission,
make material changes, renewals, or extensions to the Investment Management
Agreement without prior to approval by an ordinary resolution of the
Independent Shareholders (Capitalised terms as defined in the Company circular
dated 13 August 2024).

 

Proposed Resolution 3: That James Ede-Golightly be appointed a director of the
Company.

 

 

Further enquiries:

 Logistics Development Group plc                      Via FTI Consulting

 FTI Consulting                                       +44 (0) 20 3727 1340
 Nick Hasell / Alex Le May

 Strand Hanson Limited                                +44 (0) 20 7409 3494

 (Financial and Nominated Adviser)

 James Dance / Richard Johnson / Abigail Wennington

 Investec Bank plc                                    +44 (0) 20 7597 5970

 (Broker)

 Gary Clarence / Harry Hargreaves

 

 

 

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