MCK
20/06/2014 10:38
MEETING
REL: 1038 HRS Millennium & Copthorne Hotels New Zealand Limited
MEETING: MCK: MCK: SGM Voting Results
Results of the Voting at Special Meeting of Shareholders
MCK advises that shareholders voted overwhelmingly in favour of its proposed
capital reduction scheme (the "Scheme") at its special meeting held in
Auckland yesterday afternoon. Details of the votes cast are set out below.
Special resolutions:
Ordinary shareholders
--For: 326,755,039 (99.85%)
--Against: 481,689 (0.15%)
Preference shareholders
--For: 172,933,181 (99.95%)
--Against: 92,388 (0.05%)
"We would like to thank our shareholders for their support of the Scheme and
for their continued support of MCK" said MCK's Managing Director Mr. B K
Chiu. "We believe that the Scheme will allow us to simplify our business,
refocus on our New Zealand hotel and property development operations and also
gives our shareholders direct control of the investment we have made in First
Sponsor Group Limited", he said.
Under the Scheme, for every 1,000 ordinary or preference shares held by
shareholders, 698 shares will be cancelled and shareholders will receive 327
shares in First Sponsor Group Limited ("FSGL"), MCK's associate company which
is a property developer in China and which is expected to be listed on the
Singapore Exchange next month.
MCK will now proceed to seek approval from the High Court (expected to be on
10 July) ahead of the Scheme becoming effective (which is expected to be on
17 July).
MCK's shareholders also have until 10 July to elect what they wish to do with
their shares in FSGL when they receive them. The options include selling
some or all of their FSGL shares through a block sale facility administered
by Trustees Executors, having them deposited into an ASX or NZX broker
account, or receiving a share certificate. Election forms detailing all of
the options were sent to shareholders with the notice of meeting.
ENDS
Enquiries:
Millennium & Copthorne Hotels New Zealand Limited (09) 353 5058
Takeshi Ito
Group Company Secretary
End CA:00251832 For:MCK Type:MEETING Time:2014-06-20 10:38:06
