Notice of EGM

RNS Number : 2975V

LonZim PLC

08 July 2009

 



8th July 2009                    

LonZim Plc

('LZM' or 'the Company')

Posting of Notice of Extraordinary General Meeting

LonZim (AIM:LZM) is today posting a circular to shareholders convening an extraordinary general meeting of the Company ('EGM'). The EGM will be held at 3.00 pm on 30 July 2009 at Private Suite 1, The May Fair Hotel, Stratton Street, London W1J 8LT.

The Company announced on 22 April 2009 that it had been served by Pershing Nominees Limited on behalf of AMB Capital (Ireland) Limited ('AMB'), a company that had recently acquired 20.75% of the Company's issued share capital, a requisition to convene an extraordinary general meeting of its shareholders ('Requisition'). The Requisition was formally received by the Company on 27 April 2009 and the Board was informed by AMB that the Requisition was supported by Damille Partners IV ('Damille'), which had acquired a beneficial interest of 6.46% of the Company's issued share capital. The AMB requisition calls for a change to the investing policy from one of investment to one of disposal, and further calls for the removal of the four executive directors of the Company and the appointment of four AMB nominated executive directors. 

On 24 June 2009 Damille notified the Company that it had sold its position and had gone below the notifiable 3% threshold. The Board has subsequently been informed that two of the proposed AMB directors, namely Rhys Cathan Davies and Brett Miller have withdrawn their nominations to become Directors. However, Pershing Nominees Limited on behalf of AMB has not formally requested the removal of the resolutions appointing them and so these are still contained in the notice of the extraordinary general meeting.

The circular to shareholders contains the Resolutions as well as the independent non-executive directors Paul Turner and Paul Heber's recommendation that shareholders should vote against all of the Resolutions.

Pursuant to AIM Rule 20, a copy of the circular and notice of EGM are available on the Company's web-site www.lonzim.co.uk.

LonZim Plc	[phone]
David Lenigas, Executive Chairman	[phone]
Geoffrey White, Chief Executive Officer	[phone]
WH Ireland Ltd: NOMAD and Broker
James Joyce	[phone]
Sarang Shah
Philip Haydn-Slater (Broker)
Pelham
Charles Vivian	[phone] [phone]
James MacFarlane	[phone] [phone]

 

END

 

 

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