Results of Court and General Meetings
14/01/2008
On 26 November 2007 the Board of Saltaire Water and the Board of
Kelda announced that they had reached agreement on the terms of
recommended Proposals (comprising the Ordinary Scheme Proposals and
the B Scheme Proposals) by which all of the issued and to be issued
share capital of Kelda will be acquired by Saltaire Water. A Scheme
Document was posted to Kelda shareholders on 20 December 2007
setting out the terms of the recommended Proposals.
Court Meetings (the Ordinary Scheme Court Meeting and the B
Scheme Court Meeting) and an Extraordinary General Meeting were
held on January 14, 2008, at The Queens Hotel, City Square, Leeds,
to consider and approve the Ordinary Scheme Proposals and the B
Scheme Proposals respectively.
Kelda announces that, at the Court Meetings, a majority in
number of Scheme Shareholders present and voting (either in person
or by proxy),representing not less than 75 per cent, in value of
relevant Scheme Shares, voted in favour of the resolutions to
approve the Ordinary Scheme and the B Scheme respectively.
The voting rights conferred by the Kelda Ordinary Shares held by
Saltaire Water and by the trustees of The Yorkshire Water
Employee's Trust were not exercised at the Ordinary Scheme Court
Meeting.
At the General Meeting, also held today, each of the special
resolutions put to shareholders in order to implement the Ordinary
Scheme and the B Scheme, were passed by the requisite
majorities.
Full details of the
voting
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