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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Davenham | LSE:DAV | London | Ordinary Share | GB00B0P32071 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.95 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMDAV
RNS Number : 7290C
Davenham Group PLC
10 March 2011
10 March 2011
Davenham Group plc
("Davenham" or "the Company" and, together with its subsidiaries, the "Group")
Result of General Meeting
Davenham announces that, in line with the Board's recommendation, all resolutions put to shareholders at the General Meeting of the Company held earlier today were voted down (each on a show of hands).
The full text of the resolutions was included in the notice of General Meeting circulated to shareholders, dated 10 February 2011, which is available at www.davenham.co.uk.
The results of the proxy voting were as follows:
For Against Abstain/Withheld Total ----------- --------- ---------- ---------------- ---------- Resolution 1 7,311,936 10,004,552 150,000 17,466,488 ----------- --------- ---------- ---------------- ---------- Resolution 2 7,311,936 10,004,552 150,000 17,466,488 ----------- --------- ---------- ---------------- ---------- Resolution 3 7,361,441 10,004,652 150,000 17,516,093 ----------- --------- ---------- ---------------- ---------- Resolution 4 7,361,441 10,004,652 150,000 17,516,093 ----------- --------- ---------- ---------------- ----------
As announced on 23 February 2011, the Company, Kingswood Property Finance Limited Partnership ("Kingswood"), Moor Park Capital Partners LLP ("Moor Park Capital") and the members of the Group's Banking Syndicate (the "Banking Syndicate") have entered into an exclusivity and standstill agreement (the "Exclusivity Agreement") in order to permit more detailed discussions to take place in relation to the potential reconstruction of the Group which would enable one or more of its divisions to recommence writing new business.
Whilst there remains no certainty as to the outcome of these discussions, the Board continues to work intensively to try to maximise the chances of a reconstruction proposal being formally proposed by Kingswood and Moor Park Capital to the Banking Syndicate.
The Board wishes to reiterate its view that, even if Kingswood, Moor Park Capital and the Banking Syndicate reach agreement on a potential restructuring of the Group, it is likely that there will be no value for shareholders' current shareholdings in Davenham.
For further information please contact:
Davenham Group plc 0161 832 8484 Paul Burke, Group Managing Director www.davenham.co.uk Hawkpoint Partners Limited (Nominated Adviser) Lawrence Guthrie / Shaun Holmes 020 7665 4642 MHP Katie Hunt/Reg Hoare 020 3128 8100
This information is provided by RNS
The company news service from the London Stock Exchange
END
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