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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Acmh Ltd | LSE:ACMH | London | Ordinary Share | KYG006011079 | ORD EUR0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.75 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number : 7335W Absolute Capital Mgmt Holdings Ltd 16 June 2008 Absolute Capital Management Holdings Limited ("Absolute Capital" or the "Company") Result of Extraordinary General Meeting and Executive Appointments Extraordinary General Meeting Absolute Capital is pleased to announce that at the Extraordinary General Meeting of the Company held today in the Cayman Islands, all of the resolutions put to shareholders to approve the demerger of the Argo Business were passed. The Company will now complete the demerger of Argo Business immediately by making a distribution of shares of Argo Group Limited ("Argo") to the Company's shareholders. Following the distribution, Argo will be owned independently of the Company. Pursuant to the terms of the demerger, shareholders will retain their existing holding of Absolute Ordinary Shares, which will continue to be traded on AIM and, in addition, will receive the same number of Argo Ordinary Shares, with Argo initially being a private company. It is intended that an application will be made for the Argo Ordinary Shares to be admitted to trading on AIM within six months. Panmure Gordon has been appointed as the financial adviser to Argo for this purpose. Until which time Argo Ordinary Shares may be admitted to trading on AIM, there will be no established market for the Argo Ordinary Shares, but Panmure Gordon will use its reasonable endeavours to match bargains in Argo Ordinary Shares off-market. The ISIN for Argo Ordinary Shares is IM00B2RDSS92. It is anticipated that CREST accounts will be credited with Argo Ordinary Shares by 16 June 2008, and that certificates in respect of Argo Ordinary Shares will be despatched by 27 June 2008. Executive Appointments The board of ACMH is pleased to announce that effective immediately, Jonathan Treacher will become the Company's non-executive Chairman, and that Glenn Kennedy has been appointed Chief Executive Officer. Glenn joined the Company in December, 2006 as General Counsel and was appointed to the Board of Directors in February, 2008. Commenting on the results of the EGM and the executive appointments, Jonathan Treacher said: "We are delighted with the result of the EGM. The demerger of Absolute Capital and Argo Group is a significant step forward for both companies as they will now be in a stronger position to execute their own growth strategies and enhance overall shareholder value. The appointment of Glenn as CEO is a logical step forward for Absolute Capital as we continue to strengthen our management team to build a solid foundation for further growth and development." Enquiries Absolute Capital Management Holdings Limited Tel: +41 41 560 9660 Jonathan Treacher Shamillia Sivathambu Panmure Gordon Tel: +44 (0)20 7459 3600 Dominic Morley Callum Stewart Cardew Group Tel: +44 (0)20 7930 0777 Tim Robertson Shan Shan Willenbrock David Roach This information is provided by RNS The company news service from the London Stock Exchange END EGMFJMRTMMMBBMP
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