Company Announcements

General Meeting Requisition Notice

Source: RNS
RNS Number : 7787C
Logistics Development Group PLC
04 September 2024
 

4 September 2024

 

Logistics Development Group plc

 

("LDG" or the "Company")

 

General Meeting Requisition Notice

 

Logistics Development Group plc, the AIM-quoted investing company, announces that it has received a requisition notice ("Notice") dated 2 September 2024 from Huntress (CI) Nominees Limited a/c KGRIG, in respect of 35,972,566 ordinary shares, representing approximately 6.86% of the Company's issued ordinary shares, requesting the Company's board of directors (the "Board") to convene a general meeting ("Requisitioned GM") under section 303 of the Companies Act 2006, as amended (the "Act").

 

A further announcement will be made in due course once the Board has considered the Notice and the proposed resolutions. In the meantime, the Board advises shareholders to take no action at this stage.

 

The Notice sets out three resolutions to be proposed at the Requisitioned GM, which are set out below. 

 

Proposed Resolution 1: That the investing policy be amended to read as follows: "The Company will cease making new investments and prioritise the timely return of capital to shareholders. The Company will seek to protect value and deliver an orderly realisation of illiquid investments. The Company will apply available cash balances and liquid investments to support the return of capital to shareholders in a timely and efficient manner. The Company will rationalise operating expenses as far as practical to maximise free cash available for distribution to shareholders."

 

Proposed Resolution 2: That the Company shall not, whether by act or omission, make material changes, renewals, or extensions to the Investment Management Agreement without prior to approval by an ordinary resolution of the Independent Shareholders (Capitalised terms as defined in the Company circular dated 13 August 2024).

 

Proposed Resolution 3: That James Ede-Golightly be appointed a director of the Company.

 

 

Further enquiries:

Logistics Development Group plc

Via FTI Consulting

 

 

FTI Consulting

+44 (0) 20 3727 1340

Nick Hasell / Alex Le May


 

 

Strand Hanson Limited

(Financial and Nominated Adviser)

James Dance / Richard Johnson / Abigail Wennington

 

+44 (0) 20 7409 3494

 

Investec Bank plc

(Broker)

Gary Clarence / Harry Hargreaves

+44 (0) 20 7597 5970

 

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCUOVNRSVUKRAR