European Islamic Investment BankPLC General Meeting (5978U)
December 03 2013 - 9:55AM
UK Regulatory
TIDMEIIB
RNS Number : 5978U
European Islamic Investment BankPLC
03 December 2013
European Islamic Investment Bank plc
('EIIB' or 'the Company')
General Meeting
Pursuant to a requisition delivered by shareholders Esterad
Investment Company and Al Bassam Investment Company, the Board of
the Company has circulated to the Company's shareholders a notice
to convene a general meeting on 31 December 2013.
The proposed resolutions (as contained in the requisition
delivered by Esterad Investment Company and Al Bassam Investment
Company) and a summary of the Board's voting recommendation are set
out below.
The time of the meeting has been determined by combination of
the date on which the requisition was received, the fact that
resolutions 1 to 6 below require special notice, and logistical
considerations.
The Board expresses its regret that the Company's shareholders
may be put to inconvenience to attend the general meeting and that
the Company has incurred costs in convening the general
meeting.
Date: 31 December 2013
------- --------------------------------
Time: 12 noon
------- --------------------------------
Venue: The offices of DWF LLP, Capital
House, 85 King William Street,
London, EC4N 7BL.
Proposed Ordinary Resolutions:
1. THAT Mr Michael Toxvaerd be removed from office as a director of the Company immediately.
2. THAT Mr Mohammed Al Sarhan be removed from office as a director of the Company immediately.
3. THAT Mr Abdulla Saif be appointed as a director of the Company immediately.
4. THAT Mr Omar El-Abd be appointed as a director of the Company immediately.
5. THAT Mr Stefan Allesch-Taylor be appointed as a director of the Company immediately.
6. THAT Mr Frederick Stonehouse be appointed as a director of the Company immediately.
Proposed Special Resolution:
To generally and unconditionally authorise the Company to make
one or more market purchases (within the meaning of section 693(4)
of the Companies Act 2006 of the Company's ordinary shares of 1p
each ("Ordinary Shares") provided that (i) the maximum number of
Ordinary Shares purchased is limited to an aggregate number of
shares as represents approximately 10% of the Company's issued
ordinary capital as at the date of the notice of general meeting of
the Company required to be called by this requisition notice; (ii)
the minimum price, exclusive of any expenses, paid for each
Ordinary Share is an amount equal to the higher of (A) 105% of the
average middle market quotations for an Ordinary Share, as derived
from the London Stock Exchange Daily Official List, for the five
business days immediately preceding the date on which such Ordinary
Share is contracted to be purchased and (B) the amount stipulated
by Article 5(1) of the Buy-back and Stabilisation Regulation 2003;
(iv) the authority granted by such resolution shall expire on the
conclusion of the Company's next Annual General Meeting, unless the
authority is revoked or renewed on or prior to such date; (v) any
Ordinary Shares purchased shall be cancelled and not held as
treasury shares; and (vi) the Company may make a contract to
purchase Ordinary Shares under the authority before the expiry of
this authority which will or may be executed wholly or partly after
the expiry of the authority, and may make a purchase of Ordinary
Shares in pursuance of any such contract.
Board's Recommendation:
The Board is of the view that the Proposed Ordinary Resolutions
are not in the best interests of the Company and its shareholders
as a whole, and that the Proposed Special Resolution as drafted is
not in the best interests of the Company and its shareholders as a
whole, and the Board is therefore recommending that shareholders
vote AGAINST all of the resolutions at the general meeting.
Enquiries:
EIIB plc Tel: +44 (0)20 7847 9900
---------------------------- -----------------------------
Zulfi Caar Hydari, CEO
---------------------------- -----------------------------
Westhouse Securities Tel: +44 (0)20 7601 6100
------------------------------ ---------------------------
Antonio Bossi
------------------------------ ---------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCZXLFBXLFEFBX
Rasmala (LSE:RMA)
Historical Stock Chart
From Aug 2024 to Sep 2024
Rasmala (LSE:RMA)
Historical Stock Chart
From Sep 2023 to Sep 2024