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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Highland Timber | LSE:HTB | London | Ordinary Share | GB0000429497 | ORD 50P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 107.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
20 September 2007 For immediate release Highland Timber P.L.C. Result of EGM and Disposal of the Forest Assets The Company announces that at the EGM held earlier today, the resolution put to the meeting to adjourn the EGM was defeated on a poll. In addition, the Resolution to approve the Disposal of the Forest Assets to FIM TGF IV, as detailed in the circular sent to Shareholders dated 31 August 2007, was passed on a poll. It is expected that the Disposal of the Forest Assets will complete shortly. At the conclusion of the EGM, Mr Ron Williams announced his intention to retire and step down as Chairman of the Company with effect from the end of this month. Mr Robert Rickman, Non-Executive Director, will assume the position of Chairman following Mr Ron Williams' retirement. The Directors will now immediately progress to a voluntary liquidation of the Company and to convene as soon as reasonably practicable an extraordinary general meeting of the Company to resolve on the matter. Terms used in this announcement have the same meanings as in the circular sent to Shareholders dated 31 August 2007. Enquiries: Highland Timber P.L.C. 020 7937 0755 Oliver Waring, Chief Executive Officer Arbuthnot Securities Limited 020 7012 2000 Tom Griffiths/Richard Johnson The Directors of the Company, accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of the Directors (who have taken all reasonable care to ensure that such is the case), the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information. Rule 8 Notice Under the provisions of Rule 8.3 of the Code, if any person is, or becomes, "interested" (directly or indirectly) in 1 per cent. or more of any class of "relevant securities" of Highland Timber, all "dealings" in any "relevant securities" of Highland Timber P.L.C. (including by means of an option in respect of, or a derivative referenced to, any such "relevant securities") must be publicly disclosed by no later than 3.30 p.m. (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period" otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an "interest" in "relevant securities" of Highland Timber P.L.C., they will be deemed to be a single person for the purpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant securities" of Highland Timber by European Forest Resources Acquisition Limited or Highland Timber P.L.C., or by any of their respective "associates", must be disclosed by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction. A disclosure table, giving details of the companies in whose "relevant securities" "dealings" should be disclosed, and the number of such securities in issue, can be found on the Panel's website at www.thetakeoverpanel.org.uk. "Interests in securities" arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an "interest" by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities. Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether or not you are required to disclose a "dealing" under Rule 8, you should consult the Panel. END
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