Redde Plc Result of AGM

 
TIDMREDD 
 
25th October 2017 
 
Redde plc ("the Company") 
 
At the Annual General Meeting of the above named company, duly convened and 
held at the offices of Berwin Leighton Paisner, Adelaide House, London Bridge, 
London, EC4R 9HA on Wednesday 25th October 2017 at 10.00 a.m. the following 
resolutions were passed as to resolutions 1 to 6 (inclusive) as ordinary 
resolutions and as to resolutions 7, 8 and 9 as special resolutions: 
 
RESOLUTIONS 
 
Resolution 1 
 
To receive and adopt the financial statements for the financial year ended 30th 
June 2017 and receive the Directors' and Auditors' reports. 
 
Resolution 2 
 
To declare a final dividend of 5.60 pence per ordinary share recommended by the 
directors. 
 
Resolution 3 
 
To re-elect Avril Palmer-Baunack as a director. 
 
Resolution 4 
 
To appoint KPMG LLP as auditors to the Company until the conclusion of the next 
general meeting of the Company at which accounts are laid. 
 
Resolution 5 
 
To authorise the directors to agree the auditors' remuneration. 
 
Resolution 6 
 
That the directors be generally and unconditionally authorised in accordance 
with section 551 of the Companies Act 2006 (the "Act") to allot: 
 
(a)     shares in the Company or grant rights to subscribe for or to convert 
any security into shares in the Company up to an aggregate nominal amount of GBP 
101,327; and in addition 
 
(b)     equity securities of the Company (within the meaning of section 560 of 
the Act) in connection with an offer of such securities by way of a rights 
issue up to an aggregate nominal amount of GBP101,327 
 
provided that this authority shall expire on 30 December 2018 or, if earlier, 
the conclusion of the next annual general meeting of the Company but, in each 
case, so that the Company may, before such expiry, make an offer or agreement 
which would or might require shares to be allotted or rights to subscribe for 
or convert securities into shares to be granted after such expiry and the 
directors may allot shares or grant rights to subscribe for or convert 
securities into shares pursuant to such an offer or agreement as if this 
authority had not expired. 
 
"rights issue" means an offer to: 
 
        (i)  holders of ordinary shares in the capital of the Company in 
proportion (as nearly as may be practicable) to the respective number of 
ordinary shares held by them; and 
 
        (ii) holders of other equity securities if this is required by the 
rights of those securities or, if the directors consider it necessary, as 
permitted by the rights of those securities, 
 
to subscribe for further securities by means of the issue of a renounceable 
letter (or other negotiable document) which may be traded for a period before 
payment for the securities is due, but subject in both cases to such exclusions 
or other arrangements as the directors may deem necessary or expedient in 
relation to treasury shares, fractional entitlements, record dates or legal, 
regulatory or practical problems in, or under the laws of, any territory or any 
other matter. 
 
Resolution 7 
 
That subject to and conditional on the passing of resolution number 6, the 
directors be empowered, pursuant to section 570 of the Act, to allot equity 
securities (within the meaning of section 560 of the Act) for cash pursuant to 
the authority conferred by resolution number 6 and/or where the allotment 
constitutes an allotment of equity securities by virtue of section 560(3) of 
the Act, in each case: 
 
(a)     in connection with an offer of such securities by way of a rights issue 
(as defined in resolution number 6); and 
 
(b)     (otherwise than pursuant to paragraph 7(a) above), up to an aggregate 
nominal amount of GBP30,398 
 
as if section 561(1) of the Act did not apply to any such allotment, such 
authority to expire on 30 December 2018 or, if earlier, the conclusion of the 
next annual general meeting of the Company, save that the Company may, before 
such expiry, make an offer or agreement which would or might require equity 
securities to be allotted after such expiry and the directors may allot equity 
securities in pursuance of such an offer or agreement as if this power had not 
expired. 
 
Resolution 8 
 
That the Company be generally and unconditionally authorised to make market 
purchases (within the meaning of section 693(4) of the Act) of ordinary shares 
of 0.01 pence each in the capital of the Company on such terms and in such 
manner as the directors may from time to time determine, provided that: 
 
(a)     the maximum number of ordinary shares hereby authorised to be acquired 
is 30,398,203 representing approximately 10 per cent. of the issued ordinary 
share capital of the Company; 
 
(b)     the minimum price (excluding expenses) which may be paid for any such 
ordinary share is 0.1 pence; 
 
(c)     the maximum price (excluding expenses) which may be paid for any such 
ordinary share is the higher of: 
 
        (i)      an amount equal to 105 per cent. of the average market value 
of an ordinary share in the Company for the 5 business day prior to the day the 
purchase is made; and 
 
        (ii)      the value of an ordinary share calculated on the basis of the 
higher of the price quoted for: 
 
                (A)     the last independent trade of; and 
 
                (B)    the highest current independent bid for, 
 
any number of the Company's ordinary shares on the trading venue where the 
purchase is carried out; and 
 
(d)     the authority hereby conferred shall expire (unless previously renewed, 
varied or revoked) on 30 December 2018 or, if earlier, the conclusion of the 
next annual general meeting of the Company (except in relation to the purchase 
of ordinary shares the contract for which was concluded before the expiry of 
this authority and which will or may be executed wholly or partly after such 
expiry). 
 
Resolution 9 
 
That with effect from the conclusion of this Annual General Meeting the 
articles of association contained in the document produced to the meeting (and 
signed by the Chairman of the meeting for the purpose of identification) be 
adopted as the articles of the Company in substitution for, and to the 
exclusion of, the articles of association of the Company existing immediately 
prior to that time. 
 
CONTACT: 
 
Name:             Nick Tilley 
                      Company Secretary 
 
Telephone:      [phone] 
 
Date:               25th October 2017 
 
 
 
END 
 

(END) Dow Jones Newswires

October 25, 2017 05:44 ET (09:44 GMT)