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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
South African Property Opportunities | LSE:SAPO | London | Ordinary Share | GB00B16GQJ90 | 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 |
TIDMSAPO
RNS Number : 9137L
South African Property Opps PLC
24 April 2018
Legal Entity Identifier: 213800MCRBNG3UHI1A31
24 April 2018
South African Property Opportunities plc
(incorporated and registered in the Isle of Man under the Isle of Man Companies Act 2006
with registered number 006491V)
(the "Company")
Further re voluntary winding-up
The Board has received through its advisers an email from Michael Meyers, who has recently acquired 29.9 per cent. of the entire issued share capital of the Company. The email requests the board of directors cancel or agree to adjourn the EGM to be held on 2nd May and states that "both resolutions will be rejected by holders of approximately 81% of the equity".
The email states that Mr Meyers has been informed of the voting intentions of two other shareholders, "John McKeon holding 26.6% of the equity & Peterhouse Corporate Finance acting for Flare Capital with 24.9% of the equity", but that the shareholders are not acting in concert. The Board notes that all three shareholders have only recently acquired shares in the Company.
The email suggests that the board of directors should resign and appoint Mr Meyers and nominees of the other two shareholders as directors, as well as suggesting a possible independent director, "if you felt that this was necessary."
The email concludes, "In view of the price having risen substantially today I think action is necessary without delay."
The extraordinary general meeting of the Company's shareholders is due to be held at 11:00 a.m. on 2 May 2018 in order to approve the proposals, following which a further announcement will be made.
For further information contact:
Panmure Gordon & Co (Nominated adviser and broker)
Paul Fincham/Jonathan Becher/Rob Naylor +44 20 7886 2500
Galileo Fund Services Limited (Registrar and administrator)
Ian Dungate/Suzanne Jones + 44 (0) 1624 692600
This information is provided by RNS
The company news service from the London Stock Exchange
END
FURIIMPTMBJTMMP
(END) Dow Jones Newswires
April 24, 2018 05:00 ET (09:00 GMT)
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