Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

Gladstone PLC (GLD)

  Print      Mail a friend

Wednesday 04 March, 2009

Gladstone PLC

Letter to shareholders

RNS Number : 3027O
Gladstone PLC
04 March 2009
 





FOR IMMEDIATE RELEASE


Letter to Shareholders


Gladstone plc

("Gladstone" or the "Company")


The Chairman and Chief Executive of Gladstone, Dr Said Ziai, wrote to shareholders yesterday in relation to the Board's recommendation to vote against the resolution being proposed at the general meeting of the Company to be held on 16 March 2009. The full text of the letter is set out below.


"

3 March 2009

Dear Shareholder,


Urgent: To Protect your interest in Gladstone

VOTE AGAINST the resolution to appoint Mark Leonard as a director of Gladstone (the "Resolution")

Whilst a substantial majority of Gladstone shareholders rejected Constellation's inadequate and hostile offer for Gladstone at the end of last year, Constellation has not given up its campaign to pursue its own interests at the expense of other shareholders and to take control of Gladstone on the cheap.

On Friday, 27 February 2009, at Gladstone's Annual General Meeting (the "AGM"), Constellation voted against key company resolutions which were accepted by the majority of the other Gladstone shareholders whose votes were taken. In particular, Constellation voted against the re-election of Gladstone's Finance Director, requiring him to step down, removed the Company's ability to sell its treasury shares for cash (other than to current shareholders on a pre-emptive basis), denied the Board the flexibility to make market purchases of its shares and prevented the Company from adopting revised articles of association to reflect the new legislation embodied in the Companies Act 2006. In a reckless act, Constellation voted to:

  • Remove Nicholas Montgomery as Finance Director: Nicholas Montgomery is an integral part of the management team. No questions were raised by Constellation before or during the AGM as to his role or performance. The Board has demonstrated consistency in preserving the financial strength of the Group whilst strategically investing in critical business areas. This gives Gladstone many options for growth in the future, despite the current challenging economic conditions. What possible reasons could Constellation have for removing the Finance Director in these circumstances? The Board believes such action is indicative of Constellation's desire to pursue its own agenda against the interests of the Company as a whole and of the majority of Gladstone's other shareholders.

  • Prevent Gladstone from selling its treasury shares for cash: Constellation hasby its actionsprevented a targeted cash sale of the shares Gladstone currently holds in treasury, notwithstanding that this may be for the benefit of all other shareholders. The Board believes Constellation's vote against this resolution was motivated by its own desire to prevent any dilution of its shareholding and not by any consideration of the Company's long-term best interests.

  • Prevent Gladstone from making market purchases of its shares: At the AGM, the Board also sought shareholder approval to make market purchases of Gladstone shares, subject to certain limitations. This resolution was again blocked by Constellation, denying the Board the flexibility to enhance shareholder value by managing effectively the Company's capital and reserves over the coming 12 months.

  • Prevent Gladstone's articles of association from being properly updated to reflect the Companies Act 2006: At the AGM, we asked shareholders to approve a number of amendments to our articles of association that were intended primarily to take account of changes in English company law brought about by the Companies

    Act 2006 (including in relation to the regulation of conflicts of interest). In its letter to shareholders dated 25 February, Constellation stated that it would vote against the adoption of the revised articles and made several allegations regarding Gladstone's corporate governance and the Board's management of conflicts of interest. Not only does the Board believe these allegations to be wholly without substance, but the Board also believes Constellation's opposition to the adoption of the new articles of association was a deliberate measure aimed at enabling it, through its significant minority shareholding, to have effective control over issues of conflicts of interest, each of which must now (following the failure of the resolution to adopt the revised articles) be put to a shareholder vote instead of being managed by the Board. The question of how the Company will manage conflicts of interest in the event of Mark Leonard's appointment as a director is an issue which your Board has previously highlighted as being of real concern if the Resolution is carried.

If you have not yet voted on the Resolution (or if you have voted in favour and now wish to change your proxy instruction), to protect your interest in Gladstone, the Board now asks you to VOTE AGAINST the Resolution by using the attached green proxy form. Please ignore the form sent to you by Constellation on 25 February requesting their form to be sent to their advisers. Constellation's advisers are under no obligation to forward your voting instructions to the Registrar and your vote could be lost. Should you need any help with regards to this note, you can call the shareholder helpline on 01491 202111. In order to ensure receipt of your completed green proxy form in good time, it should be submitted as soon as possible, and in any event by no later than 12.00 pm on Wednesday 11 March 2009.

If you have not received or seen a copy of the circular and notice of general meeting, a copy can be viewed or downloaded from the Company's website

at www.gladstoneplc.com and by clicking on the 'Latest News' tab where you will see the links to the published documents.

Thank you for your assistance.

Yours sincerely, 


Dr. Said Ziai

Chairman and Chief Executive Officer"


- Ends -


For further information:    

 

Gladstone plc


Dr. Said Ziai, Chairman and Chief Executive

Tel: +44 (0) 1491 201010


www.gladstoneplc.com


Financial Adviser and Nominated Adviser to Gladstone:


Grant Thornton UK LLP


Charles Cattaneo

 Tel: +44 (0) 7774 276 512  

Ian Stanway

Tel: +44 (0) 121 232 5193

Gerry Beaney

Tel: +44 (0) 20 7728 2589


Broker to Gladstone:


Fairfax I.S. PLC


Adam Hart / Laura Littley

Tel: +44 (0)20 7598 5368


Media enquiries: 

Abchurch Communications Limited


Henry Harrison-Topham Monique Tsang 

Tel: +44 (0) 20 7398 7712

[email protected]

www.abchurch-group.com





This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCFZLFBKXBZBBD

a d v e r t i s e m e n t