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Independent Adviser(s): Simmons Corporate Finance (rule 18)
Company Meeting Date: 28/11/2011
Sealegs Corporation Limited (“Sealegs”) proposed to buyback up to 5% of its shares in accordance with section 65 of the Companies Act 1993. Avenport Investment Corporation (“Avenport”) held or controlled 39.79% of the shares in Sealegs, and indicated it did not intend to participate in the buyback. Accordingly, any shares bought back under the buyback would result in Avenport increasing its control of voting rights in Sealegs.
Sealegs sought shareholder approval:
The resolutions were approved at the meeting of shareholders on 28 November 2011.
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