Change of Name

RNS Number : 9694K

TV Commerce Holdings PLC

31 December 2008

 



TV COMMERCE HOLDINGS PLC

('TV Commerce' or 'the Company')

Proposed change of name to Gemstones of Africa Group plc

The Board of TV Commerce Holdings Plc, (AIM:TVC), today proposes that the name of the Company should be changed from TV Commerce Holdings Plc to Gemstones of Africa Group plc. Under the Companies Act, a change of name requires the passing of a special resolution of Shareholders at an Extraordinary General Meeting 'EGM')

Background to and reasons for a change of name

The Board believe that the name change is necessary to reflect the investing strategy of the Company. The Company's strategy is to invest in, participate in joint ventures with or acquire one or more companies or businesses in, the natural resource sector in Africa, although it will also consider other geographical areas if the Board deem an opportunity to be appropriate.

The Directors believe that the natural resource sector is capable of delivering attractive levels of investment return and that there are a number of companies in this sector that would benefit from greater access to capital, quoted profile and support.

Your Board believes that the proposed change of name better reflects the change in the Company's strategy and is in the best interests of the Company and its shareholders and that the change should be made as soon as possible.

Extraordinary General Meeting

A circular has today been sent to shareholders convening, an Extraordinary General Meeting of the Company to be held at the offices of Daniel Stewart & Company Plc, 36 Old Jewry, London, EC2R 8DD at 11.00 a.m. on 22 January 2009. At the EGM, the Resolution will be proposed to approve the proposal to change the name of the Company from TV Commerce Holdings Plc to Gemstones of Africa Group plc. The approval of 75 per cent. of the Shareholders voting at the EGM, in person or by proxy, must be obtained for the Resolution to be passed.  

In accordance with the AIM Rules, copies of the circular and the proxy form are also available on the Company's website, www.tvcommerce.co.uk.

The definitions used in this announcement are the same as those detailed in the circular.

Circular publication date	31 December 2008
Latest time and date for receipt of Forms of Proxy	11.00 a.m. on 20 January 2009
Extraordinary General Meeting	11.00 a.m. on 22 January 2009
Change of name effective	23 January 2009

For further information please contact:

TV Commerce Holdings Plc                      Tel. [phone]

David Hargreaves, CEO

Daniel Stewart & Company plc                 Tel. [phone]

Simon Leathers / Stewart Dick 

 

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