TIDMINM
RNS Number : 0485B
Independent News & Media PLC
19 October 2009
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RiskMetrics Recommends Shareholders
Vote AGAINST EGM Resolutions
Leading Proxy Advisor Supports
INM's Recommendation to Shareholders
Dublin/London - 19 October, 2009: Independent News & Media PLC ("INM" or the
"Company") today announces that RiskMetrics Group, the world's leading
independent proxy advisory firm, recommends that shareholders vote in line with
INM's recommendation and AGAINST the two resolutions being put to the
Extraordinary General Meeting (EGM) on Tuesday, 3 November, 2009.
EGM Resolutions
The resolutions being put to shareholders at the EGM, together with INM's voting
recommendations, are set out below:
1."That Dr. Brian J. Hillery is removed from his office as the chairman of the
Company in accordance with section 182 of the Companies Act 1963 with immediate
effect."
The Board is wholly satisfied with, and continues to endorse fully, Dr. Hillery
as INM's Chairman. The Board does not, therefore, believe that the removal of
Dr. Hillery from the Board is in the best interests of the Company and the
Shareholders as a whole at this time and urges Shareholders to vote AGAINST
Resolution 1.
2. "That a new senior independent director be appointed with immediate effect."
The INM Board is also wholly satisfied with, and continues to endorse fully,
Baroness Jay as INM's Senior Independent Director. The Board does not,
therefore, believe that the removal of Baroness Jay from the position of Senior
Independent Director of the Company is in the best interests of the Company and
the Shareholders as a whole at this time and urges Shareholders to vote AGAINST
Resolution 2.
Full details of the two resolutions and INM's recommendations are set out in the
Notice of Meeting posted to all shareholders and which is also available on the
INM website www.inmplc.com
For further information, please contact:
+----------------------+-----------------------+--------------------------+
| Media | Rory Godson/ Paul | Investors and Analysts |
| Pat Walsh | Durman | Mark Kenny/ Jonathan |
| Murray Consultants | Powerscourt (London) | Neilan |
| (Dublin) | Tel: +44 20 7250 1446 | FD K Capital Source |
| Tel: +353 1 498 0300 | | (Dublin) |
| | | Tel: +353 1 663 3680 |
+----------------------+-----------------------+--------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
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