RNS Number : 3218Z
ACP Capital Limited
17 July 2008
ACP Capital Limited
17 July 2008
Result of General Meeting and Board Changes
ACP Capital ("the Company" or "ACP Capital") announces that all resolutions relating to
the removal from office as a director of the
Company of each of Derek Vago, Eric Youngblood, Nikolaj Larsen, Francois Georges, Alan Braxton
and Daniele Discepolo, and the appointment as
a director of the Company of each of John Chapman, Patrick McCann and James Lowenstein were
duly passed by shareholders at the EGM held
today. All board changes become effective immediately.
Mr Chapman is a lawyer and member of the New York State Bar and Chartered Financial
Analyst. He is currently a director of Central Asia
Regional Growth Fund plc, a Dublin domiciled investment fund, the Black Sea Property Fund
Limited and the Ottoman Fund Limited, both
domiciled in Jersey, and Muni Funding Company of America LLC, a limited liability company
domiciled in Delaware.
Mr McCann has been a practising barrister at the Irish Bar since 1987. Between 2002 and
2003 he was the Secretary General of the
International Federation for European Law (FIDE). Mr. McCann is a director of Central Asia
Regional Growth Fund Plc and Eurobananacanarias
S.A..
Mr Lowenstein served as US ambassador to Luxembourg from 1977 to 1981 and was Principal
Deputy Assistant Secretary of State for European
Affairs from 1974 to 1977, with particular responsibility for NATO. Mr Lowenstein was
formerly chairman of both Baltic Investments S.A.,
and formerly chairman of the Ukraine Fund Limited. He was also a member of the advisory board
of the Foreign and Colonial American Major
Companies Fund. Mr Lowenstein has been decorated with the Legion of Honor (France) and the
Grand Croix de al Courenne de Chene (Luxembourg).
The newly constituted board of ACP Capital intends to carry out an in-depth review of the
assets and businesses of ACP Capital over the
course of the coming weeks with a view to minimising or curtailing future spending on new
acquisitions and in due course, subject to the
necessary regulatory requirements, to initiate a gradual realisation of assets as
opportunities arise. It is also intended that any net
proceeds received by ACP Capital on the disposal of any assets will be returned to
shareholders over time.
Further information specified by paragraph (g) in Schedule Two to the AIM Rules will form
part of a subsequent announcement.
Enquiries:
Rob Bailhache / Nick Henderson, Financial Dynamics +44 (0) 207 269 7200
Sacha Macintosh, ACP Capital UK LLP +44 (0) 844 800 4530
Clayton Bush / Simon Stilwell, Liberum Capital Ltd +44 (0) 203 100 2000
Philip Secrett, Grant Thornton UK LLP +44 (0) 207 383 5100
This information is provided by RNS
The company news service from the London Stock Exchange
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