Result of EGMMar 16 ,2010
Depa (ticker DEPA) (‘Depa’ or ‘the Company’), one of the world’s leading interior contracting companies, announces today that at its Extraordinary General Meeting held at 17:00 on 15 March 2010, the following resolutions were approved by shareholders:
THAT, the authority conferred on the Board of Directors at the previous EGM on November 5th, 2008 be renewed, if and to the extent resolved by the Board of Directors, the ordinary share capital of the Company be redenominated from US Dollars to UAE Dirhams, and that the Board of Directors have the power to implement such redenomination as they see fit including, without limitation, in relation to the selection of an appropriate exchange rate and the mechanism for dealing with fractional entitlements
THAT, the Board of Directors be and are hereby generally and unconditionally granted the power to approve and implement a stock split of ratio 2:1 resulting in the issuance of one additional ordinary share for every outstanding ordinary share held on the Record Date of Tuesday 30th March, 2010
All shares represented in person or by proxy were voted unanimously in favour of this resolution. A poll was conducted during the meeting as requested by the Chairman of the Meeting, Mr Mohannad Sweid, in-line with Depa Limited’s Articles of Association.
74,391,613 shares were represented at the meeting and all shares were voted in favour of the resolution.
262,490,035 proxy votes were handed to the Chairman of the Meeting for him to cast on behalf of Depa shareholders and all votes were cast in favour of the resolution.
336,881,648 shares in total were represented in person or by proxy.
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