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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Atlantic Coal | LSE:ATC | London | Ordinary Share | GB00B142G994 | ORD 0.07P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.09 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS No 7997u BP AMOCO PLC 1 September 1999 BP AMOCO SHAREHOLDERS APPROVE COMBINATION WITH ARCO BP Amoco shareholders today gave overwhelming approval to the company's proposal to combine with Atlantic Richfield Company (ARCO). Over 800 shareholders who attended an Extraordinary General Meeting (EGM) at the Royal Festival Hall in London, voted conclusively to approve the combination. In addition, BP Amoco Co-Chairman Peter Sutherland disclosed that proxy votes representing 5,851,637,483 shares backing the combination had already been received, compared with 27,933,423 against and 9,730,625 abstentions -- a majority in favour of 99.3 per cent. More than 60 per cent of the shares in issue were voted. BP required a simple majority of the votes cast to be in favour in order to secure shareholder approval. Overwhelming majorities in favour were also recorded for other resolutions considered at today's meeting, including a split of BP Amoco shares which will have the effect of doubling the shares in issue. Sutherland said the voting indicated "overwhelming shareholder support for the ARCO combination". Noting that "since the beginning of 1994 we have added some $75 million a day to the value of the company", he said the share split was "designed to bring our share price more into line with our principal competitors in the UK and the US and hopefully to make our shares more attractive to shareholders both here and in the US". BP Amoco chief executive Sir John Browne said: "Today's conclusive endorsement by our shareholders is a crucial step in our progress towards closing the transaction. Our discussions with the various regulatory authorities are also moving constructively ahead and our integration plan is ready to be implemented. All of this gives us great confidence that we can meet our target to complete the deal before the end of the year." ARCO's shareholders also overwhelmingly supported the transaction at a special shareholder meeting on August 30, with 97.36 per cent of the votes cast in favour in a turnout of some 75 per cent. END MSCBXGBCCBGCCCB
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