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Share Name Share Symbol Market Type Share ISIN Share Description
Cip Merchant Capital Limited LSE:CIP London Ordinary Share GG00BF8NW879 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 59.00 57.00 61.00 59.00 59.00 59.00 88,087 08:00:13
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 0.0 -3.4 -6.0 - 32

CIP Merchant Capital Ltd Result of AGM

10/09/2021 4:00pm

UK Regulatory (RNS & others)


Cip Merchant Capital (LSE:CIP)
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RNS Number : 4564L

CIP Merchant Capital Ltd

10 September 2021

10 September 2021

CIP MERCHANT CAPITAL LIMITED

("CIP Merchant Capital" or the "Company")

Result of AGM

CIP Merchant Capital announces the results of its Annual General Meeting ("AGM") held at 11.00 a.m. today. Resolutions 1 to 7, and 10, were duly passed by way of a poll.

As per the announcement on 2 September 2021, Resolutions 8 and 9 did not form part of the business of the AGM. As a result of this, any votes received on Resolutions 8 and 9 were disregarded. The Company confirms that Messrs Fumagalli and Sgarbi have therefore retired from the Board of Directors of the Company with effect from today's date.

As Resolution 11 was not passed, the Company will not be able to buy back any of its own ordinary shares in the market until such a resolution is passed at a future general meeting of the Company. Whilst the Board had no present intention to exercise such general authority to buy back shares had it been approved, the Board believes it would have provided them with greater flexibility when considering how best to address any imbalance between the supply of and demand for its ordinary shares. Accordingly, the Board will engage with the relevant shareholders in regard to Resolution 11.

The results of the AGM are as follows:

 
 ORDINARY                                                          TOTAL          % OF ISSUED       VOTES WITHHELD* 
  RESOLUTIONS                 FOR                AGAINST            VOTES      SHARE CAPITALVOTED 
                         Votes        %       Votes        % 
                      -----------  ------  -----------  ------ 
 1. To receive 
  Company's 
  Annual Report 
  and Audited 
  Financial 
  Statements 
  for the period 
  ended 31 
  December 
  2020.                23,075,357   99.94     15,000     0.06    23,090,357          41.98               9,803 
                      -----------  ------  -----------  ------  -----------  --------------------  ---------------- 
 2. To re-appoint 
  BDO Limited 
  as auditor 
  to the Company.      23,075,357   99.94     15,000     0.06    23,090,357          41.98               9,803 
                      -----------  ------  -----------  ------  -----------  --------------------  ---------------- 
 3. To authorise 
  the Directors 
  of the Company 
  to determine 
  the remuneration 
  of the auditor.      23,075,357   99.94     15,000     0.06    23,090,357          41.98               9,803 
                      -----------  ------  -----------  ------  -----------  --------------------  ---------------- 
 4. To authorise 
  the Directors 
  of the Company 
  to determine 
  the renumeration 
  of the Directors.    22,971,357   99.55    104,000     0.45    23,075,357          41.96              24,803 
                      -----------  ------  -----------  ------  -----------  --------------------  ---------------- 
 5. To re-elect 
  Mr Adrian 
  Collins as 
  a Director 
  of the Company.      22,990,357   99.63     85,000     0.37    23,075,357          41.96              24,803 
                      -----------  ------  -----------  ------  -----------  --------------------  ---------------- 
 6. To re-elect 
  Mr Robert 
  King as a 
  Director 
  of the Company.      22,989,357   99.63     85,000     0.37    23,074,357          41.95              25,803 
                      -----------  ------  -----------  ------  -----------  --------------------  ---------------- 
 7. To re-elect 
  Mr John Falla 
  as a Director 
  of the Company.      22,989,357   99.63     85,000     0.37    23,074,357          41.95              25,803 
                      -----------  ------  -----------  ------  -----------  --------------------  ---------------- 
 8. Void                                                           N/A 
                      --------------------------------------------------------------------------------------------- 
 9. Void                                                           N/A 
                      --------------------------------------------------------------------------------------------- 
 10. To elect 
  Mr Piero 
  Sansalone 
  as a Director 
  of the Company.      18,527,830   80.29   4,547,527    19.71   23,075,357          41.96              24,803 
                      -----------  ------  -----------  ------  -----------  --------------------  ---------------- 
 11. To authorise 
  the Company 
  to make market 
  acquisitions 
  of its own 
  Shares.              7,839,843    33.94   15,259,317   66.06   23,099,160          42.00               1,000 
                      -----------  ------  -----------  ------  -----------  --------------------  ---------------- 
 

*A 'vote withheld' is not a vote in law and is not counted towards the proportion of votes 'for' and 'against' a resolution.

As at the date of the AGM, the number of ordinary shares in issue, and therefore the total number of voting rights was 55,000,000.

For further information:

 
CIP Merchant Capital 
 Independent Non-Executive Directors and Company 
 Secretary c/o Maitland Administration (Guernsey)       + 44 1481 749 
 Limited                                                 360 
Merchant Capital Manager Limited (Investment Manager) 
 Wikus Van Schalkwyk                                    +44 20 7409 3494 
Strand Hanson Limited (Nominated Adviser and Broker) 
 James Bellman / Matthew Chandler / Ritchie Balmer      +44 20 7409 3494 
 

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END

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September 10, 2021 11:00 ET (15:00 GMT)

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