AGM Statement

RNS Number : 7523G

Pennant International Group PLC

17 May 2011

 



PENNANT INTERNATIONAL GROUP PLC

(AIM: PEN)

Result of AGM and GM

Pennant International Group plc ("Pennant" or "the Company") announces that at the Annual General Meeting held earlier today, all resolutions put to shareholders were duly passed, including a resolution to authorise the directors to make market purchases of up to 15 per cent. of the Company's Ordinary Shares.

At the General Meeting also held earlier today, independent shareholders passed the resolution, on a poll, to approve the waiver of obligations under Rule 9 of the City Code on Takeovers and Mergers in respect of Christopher Powell, Jennifer Powell and the Powells' Concert Party, as detailed in the Circular dated 8 April 2011, in the event that the Company makes market purchases of its own ordinary shares.

Christopher Powell, Jennifer Powell and the Powells' Concert Party are interested in 10,301,533 Ordinary Shares, representing 38.05 per cent of the Company's voting shares. The authority granted to the Company to make market purchases is over 4,060,814 Ordinary Shares. If the Company were to utilise fully its authority to make market purchases the interests of Christopher Powell, Jennifer Powell and the Powells' Concert Party would represent 44.77 per cent of the Company's voting shares.

Contacts:
Pennant International Group plc	www.pennantplc.co.uk
John Waller, Finance Director	[phone]
WH Ireland Limited	www.wh-ireland.co.uk
Mike Coe / Marc Davies	[phone]
Winningtons Financial	www.winningtons.co.uk
Paul Vann / Tom Cooper	[phone]

Pennant International Group plc, based in Cheltenham, England and is listed on the Alternative Investment Market (AIM) of the London Stock Exchange.

 

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AGMUBUARARAVAAR