30 April 2015
GLI Finance Limited (the "Company" or "GLI Finance")
Result of Annual General Meeting
GLI Finance is pleased to announce that at the Annual General Meeting ("AGM") held at 3:00 p.m. today, 30 April 2015, each of the Resolutions was duly passed without amendment.
For further information, please contact:
GLI Finance Limited
Geoffrey Miller
+1 203 916 0003
+44 7408 830719
Panmure Gordon (Nominated Adviser and Corporate Broker)
Dominic Morley
+44 (0)20 7886 2500
Peter Steel
+44 (0)113 357 1152
Tom Salvesen
+44 (0)20 7886 2904
Camarco (PR Advisor)
Ed Gascoigne-Pees
+44 (0)203 757 4984
+44 (0)203 757 1949
Notes
Details of those resolutions passed, which were not ordinary business of the AGM, follow:
|
Resolution |
Votes For (including discretionary) |
Votes Against |
Votes Withheld* |
|
11 - Ordinary |
107,868,596
|
17,508 |
- |
|
12 - Ordinary |
107,428,096
|
458,008 |
- |
|
13 - Special |
102,667,904
|
5,209,703 |
8,497 |
*A vote withheld is not a vote in law and is therefore not counted towards the proportion of votes "for" or "against" the Resolution.
The full wording of these resolutions can be found below:-
Resolution 11 - Ordinary Resolution
THAT, in accordance with article 44 of the Company's articles of incorporation (the "Articles"), the Board may, in respect of dividends declared for any financial period or periods of the Company ending prior to the Annual General Meeting of the Company to be held in 2016, offer shareholders the right to elect to receive further shares, credited as fully paid, instead of cash in respect of all or part of any dividend or dividends declared in respect of any such period or periods.
Resolution 12 - Ordinary Resolution
THAT the Company be and is hereby generally and unconditionally authorised, in accordance with Section 315 of The Companies (Guernsey) Law 2008 (as amended) (the "Law"), to make market acquisitions (as defined in that Law) of ordinary shares of no par value in the capital of the Company ("Ordinary Shares"), provided that:
a. the maximum number of Ordinary Shares hereby authorised to be purchased shall be 14.99% of the issued Ordinary Shares on the date on which this resolution is passed;
b. the minimum price which may be paid for an Ordinary Share shall be 1p;
c. the maximum price (exclusive of expenses) which may be paid for an Ordinary Share shall be 105% of the average of the middle market quotations (as derived from the Daily Official List) of the Ordinary Shares for the five business days immediately preceding the date of purchase; and
d. the authority hereby conferred shall expire at the conclusion of the next annual general meeting of the Company held in 2016 or 18 months from the date of this resolution, whichever is the earlier, unless such authority is varied, revoked or renewed prior to such time, save that the Company may, prior to such expiry, enter into a contract to purchase Ordinary Shares under such authority and may make a purchase of Ordinary Shares pursuant to any such contract.
Resolution 13 - Special Resolution
THAT pursuant to Article 8.7 of the Articles, the provisions of Article 8.2 of the Articles shall not apply and shall be excluded in relation to the issue of up to an aggregate number of Ordinary Shares as represents less than 10 per cent. of the number of Ordinary Shares admitted to trading on London Stock Exchange plc's Alternative Investment Market for listed securities immediately following the passing of this resolution, provided that such disapplication and exclusion shall expire on the date which is 18 months from the date of the passing of this resolution or, if earlier, at the conclusion of the next annual general meeting of the Company following the date of the passing of this resolution (unless previously renewed, revoked or varied by the Company by special resolution) save that the Company may before such expiry make an offer or agreement which would or might require Ordinary Shares to be allotted after such expiry and the Directors may allot Ordinary Shares in pursuance of such an offer or agreement as if the disapplication and exclusion conferred hereby had not expired.
About GLI Finance Limited
GLI Finance (www.glifinance.com) is a specialist provider of finance to small and medium sized enterprises and is quoted on the AIM market of the London Stock Exchange (ticker GLIF). GLI Finance both invests in loans to SMEs and originates finance for SMEs through a variety of finance platforms.
The platforms in which GLI Finance is invested vary by geography, industry, size of lending and by type of lending. They include Global trade Finance, UK and US SME Lending, Offshore Lending, UK invoice discounting, European invoice discounting, Global multi-asset crowd funding and UK property-backed lending.