RCG Holdings Limited Notice of EGM (5798W)

TIDMRCG

RNS Number : 5798W

RCG Holdings Limited

30 December 2013

30 December 2013

RCG Holdings Limited

("RCG" or the "Company" and together with its subsidiaries, the "Group")

Proposed Refreshment of General Mandate,

Posting of Circular and Notice of Special General Meeting

RCG Holdings Limited (AIM:RCG, HKSE:802) announces that a Circular, Form of Proxy and Form of Direction (for Depository Interest Holders) have today been posted to Shareholders, together with a notice of a Special General Meeting convening a Special General Meeting to be held at Lot 1, Jalan Teknologi 3/5, Taman Sains Selangor 1, Kota Damansara, Petaling Jaya, Selangor, Malaysia at 3:00 p.m. (Hong Kong Time) on 17 January 2014 for the purpose of considering and (if thought fit) passing a resolution to refresh the Existing General Mandate previously approved by Shareholders at the Annual General Meeting.

Copies of these documents will also be available on the Company's website at www.rcg.tv under the "Investor Relations" section and the Company's webpage at www.rcg.todayir.com. Terms used in this announcement have the same meanings as defined in the Circular.

At the Annual General Meeting, Shareholders approved, amongst other things, an ordinary resolution to grant to the Directors the Existing General Mandate to issue not more than 139,235,299 Shares, being 20% of the aggregate nominal amount of the issued share capital of the Company of 696,176,496 Shares as at the date of passing of the resolution.

During the period from the grant of the Existing General Mandate to the Latest Practicable Date, 139,230,000 Shares from the Existing General Mandate had been issued by the Company. As at the Latest Practicable Date, the Company had an aggregate of 835,406,496 Shares in issue and 5,299 Shares remained unissued pursuant to the Existing General Mandate, representing approximately 0.006% of the existing issued share capital of the Company. Save for the proposed grant of the General Mandate Refreshment, there has been no refreshment of the Existing General Mandate since the Annual General Meeting.

The Board remains convinced that equity fundraising is the most efficient way of financing the Company and accordingly, the Board proposes to replace the Existing General Mandate with the New General Mandate which will give the Directors authority to exercise the power of the Company to issue new Shares representing up to 20% of the issued share capital of the Company as at the date of the Special General Meeting.

The Company intends to utilise the New General Mandate to fund the growth of business portfolio mix within the Group, to repay existing loans, for general working capital purposes and potentially for future acquisitions. The Company does not currently have any plans to raise equity within any particular time frame. However the Company will not exclude the possibility of doing so in the near future should a suitable opportunity arise

Enquiries:

RCG Holdings Limited Tel: [phone]

Wang Zhongling, Chief Executive Officer

[e-mail]

   Smith & Williamson Corporate Finance Limited                   Tel: [phone] 

(Nominated adviser and broker)

Dr. Azhic Basirov / David Jones

This information is provided by RNS

The company news service from the London Stock Exchange

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