Concha plc Posting of Shareholder Circular & Notice of GM (0892T)
10 Dezembro 2012 - 5:00AM
UK Regulatory
TIDMCHA
RNS Number : 0892T
Concha plc
10 December 2012
Concha plc
("Concha" or the "Company")
Posting of Shareholder Circular and Notice of General
Meeting
Revised Investing Policy
Concha announces proposals to change its Investing Policy
subject to shareholder approval. A circular setting out the
proposals and convening a General Meeting will be posted to
shareholders today. Copies of the Circular will also be available
from the Company's website, www.conchaplc.com. The General Meeting
is to be held at Brown Rudnick LLP, 8 Clifford Street, London W1S
2LQ at 2:00 p.m. on 27 December 2012.
Background
The Existing Investing Policy was approved by shareholders at
the general meeting on 7 February 2012. Since then the Directors
have reviewed a number of potential investments in line with that
policy in the technology, media and entertainment sectors. The
Existing Investing Policy states that the first investment would be
a reverse takeover. However, the Directors are of the opinion that
the opportunities available to the Company are best exploited by
building a portfolio of investments rather than one single
acquisition. Accordingly, the Directors are proposing a Revised
Investing Policy which will permit the Company greater flexibility
to pursue the available opportunities in the technology, media and
entertainment sectors.
The Directors are currently reviewing potential investment and
acquisition opportunities in line with the Revised Investing Policy
but have not, at this stage, entered into any firm commitment in
connection with any investments or acquisitions.
Revised Investing Policy
The Revised Investing Policy, which is subject to Shareholder
approval, is set out below:
The Company's strategic objective is to make investments in
technology, media or entertainment companies and/or assets where
the Directors believe there are opportunities for growth which, if
achieved, will be earnings enhancing for Shareholders. The
Directors intend to manage the resulting portfolio of investments
actively to enhance shareholder value through follow on investments
and disposals from time to time.
Such investments may result in the Company acquiring the whole
or part of a company or project, and may include the Company taking
strategic equity stakes in both public and private companies.
The Company's investments may take the form of equity, debt,
conversion of debt owed to the Company into equity, convertible
instruments, options or other financial instruments as the
Directors deem appropriate.
The Company intends to target opportunities which the Directors
believe would benefit from further investment, the expertise of the
Directors and access to the UK's capital markets. There is no limit
on the number or size of companies into which the Company may
invest.
The Directors believe that their broad collective experience in
the areas of acquisitions, accounting, corporate and financial
management and the technology, media and entertainment sectors will
enable the Company to achieve its strategic objective.
Strategic equity or debt investments may be undertaken in the
ordinary course of the Company's business and as an alternative to
holding cash reserves on a day-to-day basis.
The Directors do not expect to pay dividends or make other
distributions for the foreseeable future, but when appropriate the
Directors intend to pursue progressive policies for the return of
cash to shareholders.
Capitalised terms in this announcement either carry or bear the
same meaning as in the Circular posted this morning to Shareholders
or as available on the Company's website, www.conchaplc.com .
Enquiries:
Concha plc 07789 766 242
M Barney Battles, Non-Executive Chairman
Strand Hanson Limited (Nominated Adviser and Broker) 020 7409 3494
James Harris
Andrew Emmott
This information is provided by RNS
The company news service from the London Stock Exchange
END
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