Result of General Meeting

RNS Number : 7833V

Vislink PLC

17 December 2013

 



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO THE SAME WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

17 December 2013

Vislink plc ("Vislink" or the "Company")

Result of General Meeting

Vislink announces that all the resolutions put to the General Meeting held at 3.00 p.m. today were approved by the requisite majority of shareholders on a show of hands, and therefore the Company will proceed with its proposal to (i) cancel the listing of the Ordinary Shares on the Official List and to remove such Ordinary Shares from trading on the Main Market of the London Stock Exchange; (ii) apply for the Ordinary Shares to be admitted to trading on AIM; and (iii) increase the limit on the number of equity securities that may be issued by Directors for cash on a non-pre-emptive basis, conditional on admission to AIM.

A copy of the Resolutions passed at the General Meeting has been submitted to the Financial Conduct Authority via the National Storage Mechanism and will shortly be available for inspection at www.hemscott.com/nsm.doand on the Company's website www.vislink.com.

Details of the proxy votes received in advance of the meeting are shown below:

	Resolution	Votes For	%	Votes Against	%	Votes Withheld
1	Authority to cancel the Company's listing	36,861,017	99.47	196,227	0.53	16,737
2	Partial disapplication of pre-emption rights	36,119,120	97.61	885,802	2.39	67,051

 Notes:
1. The 'For' vote includes those giving the Chairman discretion.
2. 'Votes withheld' are not counted when deciding whether or not a resolution is carried.
3. The total number of Ordinary Shares in issue as at the date of the GM Notice was 113,902,230 carrying one vote each.

Next steps

It is expected that the last day of dealings in the Ordinary Shares on the Main Market will be 17 January 2014. Cancellation of the listing of Ordinary Shares on the Official List is expected to take effect at 8.00 a.m. on 20 January 2014. Admission is expected to take place, and dealings in Ordinary Shares are expected to commence on AIM, at 8.00 a.m. on 20 January 2014.

In connection with the application of the Ordinary Shares to be admitted to trading on AIM, the Company expects to submit shortly to AIM a pre-admission announcement in accordance with Rule 2 of the AIM Rules for Companies and publish on its website a document containing all information that will be required to be included in an AIM Admission Document which is not currently public.

Except as otherwise defined herein, capitalised terms have the same meanings as set out in the Circular dated 29 November 2013.

Ends

Contacts:
Vislink plc   Ian Davies, Group Finance Director and Company Secretary	Tel: [phone]
N+1 Singer Advisory LLP Shaun Dobson/Matt Thomas	Tel: [phone]
Hudson Sandler Charlie Jack/Katie Matthews	Tel: [phone]

About Vislink plc

The Vislink Group is a global technology business specialising in the collection and delivery of high quality video and associated data from the field to the point of usage. Vislink provides solutions to the broadcast market for the collection of live news, sport and entertainment events and to the surveillance market including defence, law enforcement and public safety customers. With offices in the UK, USA, Australia, UAE and Singapore, Vislink employs over 250 people worldwide. Our solutions include the design and manufacture of microwave radio, satellite transmission, cellular and wireless camera systems; our development and manufacturing operations are in the UK and the USA.

 

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