Crimsonwing plc – Annual General Meeting held
Crimsonwing plc announced that at the Annual General Meeting of the Company held on the 16th October 2013, the shareholders considered the appointment of Directors and as set out in the notice the Company received five (5) valid nominations. Pursuant to article 55.3 of the Company’s articles of association, since there are less nominations that there are vacancies on the board each of the persons nominated shall take up his office as director and no election shall take place. Accordingly the directors for the forthcoming year shall be Philip Crawford, David Walsh, Albert Muscat, James Bonello and Joe Grioli.
The following resolutions were approved unanimously by the shareholders:
1. That the Profit and Loss Account and Balance Sheet of the financial year ended 31st March 2013, and the Directors’ and Auditors’ Reports thereon, be hereby received and approved.
2. That the reappointment of Deloitte Audit Limited as Auditors be hereby approved, and the Board of Directors be hereby authorised to establish their remuneration.
3. That the final dividend of €0.01 (gross) per share as proposed by the directors, payable either in shares or in cash to shareholders as at the close of trading 17 October 2013 (settlement – 22 October 2013) be and is hereby approved. In addition, the Directors are hereby authorised to issue such shares as may be necessary for the purpose of meeting the demand by shareholders to have the dividend above described settled through the issue
of shares.
The Company further announces the attribution price at which shares shall be issued instead of dividends. The attribution price is €0.5797, based on the average TWAP (trade weighted average price) of the shares for the three month period immediately preceding the date of announcement of the directors’ recommendation of a dividend.
The Company shall be writing to all shareholders for them to elect the manner in which they wish to receive the dividend. In the event that a shareholder does not make an election within the time limit of 30 days, the default position of a cash payment shall apply.
To view the official company announcement, click here.