Result of General Meeting and Directorate Change (4462B)
April 17 2012 - 2:00AM
UK Regulatory
TIDMOAH
RNS Number : 4462B
Oak Holdings PLC
17 April 2012
17 April 2012
Oak Holdings plc
(being renamed Pires Investments PLC)
("Oak" or the "Company")
Results of General Meeting and board changes
The board is pleased to announce that at the General Meeting of
the Company and the Meeting of Creditors and Members held 16 April
2012 all resolutions were duly passed, consequently the Company
has, inter alia:-
-- approved the capital reorganisation;
-- approved the disposal of its subsidiaries;
-- approved the CVA;
-- approved the investing policy, and
-- approved the Company's change of name to Pires Investments PLC.
Placing
As a consequence of the approval of the resolutions at the
General Meeting the capital reorganisation and the placing of
1,000,000,000 new ordinary shares in the Company at a price of
GBP0.001 (raising GBP1m before expenses) will occur subject to the
restoration of trading in the Company's shares on AIM.
Restoration in trading in the Company's shares
The board is currently finalising the various agreements
relating to the proposals approved at the meetings held today and
is finalising the preliminary statement and audited accounts for
the year ended 31 October 2011.
The board anticipate that the above matters should be finalised
shortly and at such time the Company will seek the restoration of
trading in the Company's shares on AIM.
Board changes
As set out in the Circular to shareholders and following the
General Meeting Michael Woodcock and Peter Collins resigned and
Aamir Quraishi and Peter Redmond were appointed as directors of the
Company.
Following the above board changes the board now comprise Chris
Yates, Finance Director, Peter Redmond, Non-executive Director and
Aamir Quraishi, Non-executive Director.
Aamir Quraishi, non-executive director
Aamir has over 15 years of investment banking experience in
London, Asia and the Middle East and has worked in the UK at
Dresdner Kleinwort Benson and Libertas Capital Group Plc. He is
currently a member of the senior investment banking team of MAC
Capital Limited, which is a fully regulated investment bank
registered with the Dubai Financial Services Authority and located
in the Dubai International Financial Centre in Dubai, UAE. Aamir is
currently a non-executive director of Creon Resources PLC, which is
an investment vehicle on AIM.
Aamir qualified as a chartered accountant with Price Waterhouse
and is a member of the ICAEW and the Securities Institute. He holds
an M.A. (Hons) in Economics from Cambridge University.
During his career, Aamir has advised on and raised capital for a
number of companies globally, including in the resources and energy
sectors. These have included companies from across Africa, Europe,
the Asia-Pacific, the Americas and more recently from South
Asia.
Aamir is also a director of Montpelier Holdings Limited and
Benedict Investments Limited, both of which are registered as
International Business Companies in the Republic of Seychelles.
Further disclosure on Mr Quraishi pursuant to Schedule 2(g) of
the AIM Rules is provided below.
Aamir Ali Quraishi, age 41
Current Directorships / Past Directorships /Partnerships
Partnerships in last 5 years
Creon Resources PLC
Montpelier Holdings Limited
Benedict Investments Limited
Peter Redmond, non-executive director
Peter is an experienced corporate financier and has some 30
years' experience in corporate finance and venture capital. He has
gained particular experience in the field of reverse takeovers and
mergers. He became director of corporate finance at Durlacher
Limited in 2003 then joined Merchant House Group PLC where he later
became Chief Executive. He has been active in reconstructing a
number of AIM companies which have subsequently acquired or
established operating businesses.
Reverse transactions on which he has acted include Weatherly
International PLC and IGas Resources PLC, in both cases acting as a
director both before and after the reverse. Currently, Peter is
Chairman of Leed Resources PLC, which is an investment company on
AIM and a director of Black Eagle Capital PLC, which is an
investment company on PLUS.
Further disclosure on Mr Redmond pursuant to Schedule 2(g) of
the AIM Rules is provided below.
Peter Redmond, age 63
Current Directorships / Past Directorships /Partnerships
Partnerships in last 5 years
Leed Resources PLC Merchant Capital Limited
Blenheim Wind (UK) PLC Merchant House Group PLC
Blenheim Energy Limited Merchant House Finance Limited
Blenheim Wind & Biomass Island Gas Resources PLC (now Igas
Limited Energy PLC)
Renewable Power & Light Weatherly International PLC
Limited
Citypoint Holdings PLC Petsome PLC
Renewable Power & Light Wind Ventures Limited
PLC
Fortfield Investments PLC BWA Group PLC
Devonshire Wind Projects Westover Wines PLC
Limited
Black Eagle Capital PLC Synigence PLC
Bass Energy Pty (Australia)
Fenchurch Capital Limited
Mr Redmond was a director of BWA Group PLC, Bella Media PLC,
Weatherly International PLC and Igas Energy PLC all of which have
in the past been the subject of CVAs. Mr Redmond joined the boards
of the companies concerned in order to assist in the refinancing
and reconstruction immediately after the CVAs had been put in
place. In all cases the CVAs were successfully completed.
Enquiries:
Oak Holdings plc Tel: 07770 638 227
Chris Yates, Director
Nominated Adviser Tel: 020 7148 7900
Cairn Financial Advisers LLP
Liam Murray / Avi Robinson
Broker Tel: 020 7562 3357
Rivington Street Corporate Finance
Limited
Jon Levinson / Lucy Williams
This information is provided by RNS
The company news service from the London Stock Exchange
END
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