Share Name Share Symbol Market Type Share ISIN Share Description
Etaireia Investments plc NEX:ETIP NEX Ordinary Share GB00B1Z2XX18
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p - - - - - - - - -
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - -

Notice Of Requisition Of General Meeting, Asset Disposal And Company Update

14/03/2019 3:59pm

UK Regulatory (RNS & others)


 
TIDMETIP 
 
 
   14 March 2019 
 
   ETAIREIA INVESTMENTS PLC 
 
   ("Etaireia" or the "Company") 
 
   Notice of requisition of general meeting, Asset disposal and Company 
update 
 
   Requisition of General Meeting 
 
   The Company announces that on 7 March 2019, it received a letter from 
David Barnett, representing shareholders which hold c. 37.82% per cent. 
of the Company's issued share capital, seeking to requisition a general 
meeting of the Company's shareholders pursuant to section 303 of the 
Companies Act 2006 (the "Act"). 
 
   The letter proposes a resolution that seeks the appointment of David 
Barnett as director and Chairman of the Board of Etaireia. 
 
   The Board of Directors intends to comply with its obligations in 
accordance with section 304 of the Act which require it to call a 
general meeting with 21 days of a valid requisition and to hold such 
general meeting on a date not more than 28 days after the date of the 
notice convening such general meeting. 
 
   Shareholders are advised to take no action at this time. Further 
announcements will be made in due course. 
 
   Director Suspension 
 
   The board of Etaireia has today suspended Ian Fallmann, the Company's 
Non-Executive Director, from his duties under the terms of his service 
agreement, pending the outcome of an ongoing investigation being 
conducted into certain matters. 
 
   A further announcement will be made in due course. 
 
   Units 2A and 2B, Whitehouse Business Park, Peterlee 
 
   In November 2017, the Company announced that it completed the 
acquisition of two commercial properties in Peterlee (Units 2A and 2B of 
Whitehouse Business Park). The Company announces today that the 
mortgagee enforced its security and sold the properties. As a result, 
these assets have been removed from the Company and have been written 
off the balance sheet. 
 
   Update on Oyston Estates Limited transaction 
 
   On 24 October 2018, the Company announced that it was in discussions to 
acquire a portfolio of assets from the Oyston estate Portfolio. The 
Company announces today that there has been no progress on that 
transaction. 
 
   Half-year report for the six months ending 30 September 2018 
 
   The Company will update the market in due course on its interim 
accounts. 
 
   Suspension of trading 
 
   The Company is seeking to issue interim accounts and satisfy the NEX 
Exchange Regulatory team requirements that it can resume trading on the 
NEX Exchange. 
 
   The Company has to publish the interim accounts by 24 April 2019. There 
is currently no certainty that this can be achieved ahead of this 
deadline. 
 
   The Directors of the Company accept responsibility for this 
announcement. 
 
   ENDS 
 
 
 
   Enquiries: 
 
   Etaireia Investments Plc 
 
   Tel:  07870 200470 
 
   Myles Cunliffe 
 
   NEX EXCHANGE CORPORATE ADVISER 
 
   Alexander David Securities Limited 
 
   David Scott --Corporate Finance 
 
   James Dewhurst -- Corporate Broking 
 
   Telephone: +44 (0) 20 7448 9820 
 
   http://www.ad-securities.com 
 
   49 Queen Victoria Street, London EC4N 4SA 
 
 
 
 

(END) Dow Jones Newswires

March 14, 2019 11:59 ET (15:59 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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