We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Game Digital Plc | LSE:GMD | London | Ordinary Share | GB00BMP36W19 | ORD GBP0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 29.75 | 29.50 | 30.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMGMD
RNS Number : 6025Q
GAME Digital PLC
30 November 2016
30 November 2016
GAME DIGITAL PLC
NOTICE OF AGM
PROPOSED RENEWAL OF AUTHORITY TO BUY BACK SHARES
AND
PROPOSAL TO SHAREHOLDERS FOR RENEWED
APPROVAL OF WAIVER OF RULE 9 OF THE CITY CODE
GAME Digital plc ("GAME" or the "Company") announces that it has today posted to shareholders a circular (the "Circular") containing a notice of its annual general meeting ("AGM"), including proposals regarding the renewal of the Company's authority to make market purchases of its ordinary shares of 1p each ("Ordinary Shares") (the "Buyback Authority") and renewed approval of a waiver of the requirements under Rule 9 of the City Code on Takeovers and Mergers (the "Code") (the "Waiver").
The AGM will be held at the Company's registered office at Unity House, Telford Road, Basingstoke, Hampshire, RG21 6YJ on 18 January 2017 at 11.00am.
In accordance with Listing Rule 9.6.1, a copy of the Circular has been submitted to the National Storage Mechanism and will shortly be available for inspection at www.Morningstar.co.uk/uk/nsm and on the Company's website at www.gamedigitalplc.com/investor-relations/shareholder-services/agm.aspx.
Waiver Resolution
Set out in the Circular is an ordinary resolution for the renewed approval of a waiver of the obligation which would otherwise arise, pursuant to Rule 9 of the Code, for Duodi Investments S.à r.l. ("Duodi"), the Company's major shareholder, or any other member of Duodi's concert party (together with Duodi, the "Concert Party") to make a general offer to the other shareholders of the Company for all of their Ordinary Shares as a result of market purchases of up to 17,085,910 Ordinary Shares by the Company pursuant to the Buyback Authority, which could potentially increase the Concert Party's aggregate shareholding from approximately 43.93 per cent of the total voting rights in the Company to a maximum of approximately 48.81 per cent of the total voting rights in the Company (the "Waiver Resolution"). Independent shareholders of the Company are being asked to approve the Waiver Resolution.
Potential effect of Buyback Authority on Concert Party holding
Duodi (an investment vehicle which is ultimately owned by Elliott International, L.P. and Elliott Associates, L.P.) and David Hamid (Chairman of the Company) are considered to be acting in concert for the purposes of the Code. As at the close of business on 25 November 2016 (being the latest practicable date prior to the publication of the Circular), Duodi and David Hamid were between them interested in 75,055,201 Ordinary Shares, representing approximately 43.93 per cent of the voting rights of the Company.
Assuming (i) the repurchase of 17,085,910 Ordinary Shares pursuant to the Buyback Authority, (ii) no participation or other sales of interests in Ordinary Shares by any member of the Concert Party in connection with any share repurchases or otherwise and (iii) no other change in the Company's issued share capital, the Concert Party's maximum potential interest in the Ordinary Shares if the Waiver is approved would be 48.81 per cent. The breakdown of the maximum holdings of each member of the Concert Party in this scenario would be as follows:
Current Following full exercise of Buyback Authority and using assumptions above ------------------------------ ----------------------------- Number Interest Number of Interest of Ordinary in Ordinary Ordinary in Ordinary Shares Shares as Shares Shares as % of total % of total voting rights voting rights Duodi 73,849,189 43.22 73,849,189 48.02 David Hamid 1,206,012 0.71 1,206,012 0.78 Total Concert Party 75,055,201 43.93 75,055,201 48.81 --------------- ------------- --------------- ------------ --------------- Total Company 170,859,106 153,773,196
Ruth Cartwright
Company Secretary
Tel: 01256 784229
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCFDAFISFMSEIF
(END) Dow Jones Newswires
November 30, 2016 10:59 ET (15:59 GMT)
1 Year Game Digital Chart |
1 Month Game Digital Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions