Result of General Meeting

28/01/2009
 
The Board of AssetCo is pleased to announce that at today's General Meeting all resolutions relating to the proposed increase in the authorised share capital of the Company and authority of the Directors to allot Warrants were duly approved by shareholders on a show of hands.

The following resolutions were proposed:

1. an ordinary resolution to increase the authorised share capital of the Company from £23,750,000.00 to £27,500,000.00 by the creation of 15,000,000 new Ordinary Shares

2. an ordinary resolution, subject to and conditional on the passing of resolution 1, to grant the Directors’ authority pursuant to section 80 of the Act, to issue the Warrants giving the right to subscribe for Ordinary Shares up to a maximum nominal value of £6,127,450.50 (being 24,509,802 Warrants)

3. a special resolution, subject to and conditional on the passing of resolutions 1 and 2, to disapply the pre-emption rights provisions of section 89 of the Act in respect of the issue of Warrants for cash pursuant to the section 80 authority granted by resolution 2

The following table summarises the number of votes cast in forms of proxy that were received by the Company from shareholders prior to the meeting:

  Issued share capital Yes No Withheld
Resolution 1 73,394,120 57,513,014 1,345,020 240,000
Resolution 2 73,394,120 57,513,014 1,345,020 240,000
Resolution 3 73,394,120 56,302,816 2,555,218 240,000


Enquiries:

AssetCo plc                                       Tel: +44 (0) 20 8515 3999

Frank Flynn, Chief Financial Officer           
James Collins, Investor Relations

RBS Hoare Govett Limited                  Tel: +44 (0) 20 7678 8000

Stephen Bowler
John MacGowan
Richard Crichton

Pelham PR                                        Tel: +44 (0) 20 7743 6670

Alex Walters                                                  
Francesca Tuckett