Result of EGM

 

TIDMALR 
 
RNS Number : 6334A 
Alternative Energy Limited 
12 October 2009 
 

 
 
For immediate release 
                                    12 October 2009 
 
 
 
ALTERNATIVE ENERGY LIMITED 
 
RESULT OF GENERAL MEETING 
 
 
 
 
Alternative Energy Limited ("Alternative Energy" or the "Company") announces 
that, at the General Meeting ("GM") of shareholders held today, the resolution 
approving the Company's modified investing policy was passed. The modified 
investing policy is as follows: 
 
 
 
 
Investing Policy 
 
 
The Company's modified Investing Policy is to conclude an acquisition of a 
business/ a technology in the alternative energy sector that will be an 
efficient and greener alternative to conventional fossil fuel and nuclear 
methods of generating household and industrial energy. Various direct investment 
proposals will be considered and these are not limited to any specific 
geographical area. The intention is to acquire a business / a technology with a 
potential to develop and offer a real and commercially viable alternative to 
traditional methods of energy production and therefore create a real value for 
shareholders. 
 
 
The Directors collectively have considerable experience investing, both in 
structuring and executing deals and in raising funds. The Directors will use 
this experience to identify and investigate investment opportunities, and to 
negotiate acquisitions. Wherever necessary the Company will engage suitably 
qualified technical personnel to carry out specialist due diligence prior to 
making an acquisition or an investment. For the acquisitions which they expect 
the Company to make, the Directors may adopt earn-out structures, with specific 
performance targets being set for the sellers of the businesses acquired, and 
with suitable metrics applied. 
 
 
The Company may invest by way of outright acquisition or by the acquisition of 
assets, including the intellectual property, of a relevant business, 
partnerships or joint venture arrangements. Such investments may result in the 
Company acquiring the whole or part of a company or project (which in the case 
of an investment in a company may be private or listed on a stock exchange, and 
which may be pre-revenue), and such investments may constitute a minority stake 
in the company or project in question. The Company's investments may take the 
form of equity, joint venture debt, convertible instruments, licence rights, or 
other financial instruments as the Directors deem appropriate. 
 
 
The Company will be both an active and a passive investor. The Company intends 
to be a long-term investor and the Directors will place no minimum or maximum 
limit on the length of time that any investment may be held. 
 
 
There is no limit on the number of projects into which the Company may invest, 
nor the proportion of the Company's gross assets that any investment may 
represent at any time and the Company will consider possible opportunities 
anywhere in the world. 
 
 
The Directors may offer new Ordinary Shares by way of consideration as well as 
cash, thereby helping to preserve the Company's cash for working capital and as 
a reserve against unforeseen contingencies including by way of example, and 
without limit, delays in collecting accounts receivable, unexpected changes in 
the economic environment and unforeseen operational problems. The Company may in 
appropriate circumstances, issue debt securities or otherwise borrow money to 
complete an investment. There are no borrowing limits in the Articles of 
Association of the Company. The Directors do not intend to acquire any 
cross-holdings in other corporate entities that have an interest in the Ordinary 
Shares. 
 
 
There are no other restrictions in the type of investment that the Company might 
make nor on the type of opportunity that may be considered. 
 
 
The Company will provide an update on its investing activities at the same time 
that it publishes its audited annual results for the year ending 31 August 2009 
and as otherwise required by the AIM Rules. The Company has no current plans to 
publish any regular estimate of net asset value or updates on the investments. 
Until such time as the investing policy is substantially implemented, the 
Company will seek consent for such policy at each Annual General Meeting of the 
Company. 
 
 
All of the Company's assets will be held in its own name, or through wholly 
owned subsidiaries. 
 
 
 
 
 
 
The Circular to Shareholders including the Notice of GM, and a copy of this 
announcement are available on the Company's website: 
www.alternative.energy.com.sg 
 
 
 
 
 
 
ENDS 
 
 
For further information, please contact: 
 
 
Richard Lascelles, Director Tel: [phone] 
 
 
Roland Cornish, Beaumont Cornish Limited Tel: [phone] 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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