Result of EGM and Proposed Special Dividend


 

TIDMGMFA 
 
RNS Number : 6251B 
Global MENA Financial Assets Ltd 
29 October 2009 
 

29 October 2009 
 
 
GLOBAL MENA FINANCIAL ASSETS LIMITED 
Result of EGM and Proposed Payment of a Special Dividend 
Global MENA Financial Assets Limited (the Company) is pleased to announce the 
results of the Extraordinary General Meeting of the Company held today, 29 
October 2009 (the EGM), and the proposed payment of a special dividend. 
Results of EGM 
As set out in the announcement made by the Company on 28 September 2009, the 
purpose of the EGM was to approve either (i) the termination of the put option 
agreement (the Put Option Agreement) entered into between the Company and its 
shareholder, Global Investment House K.S.C.C, (the First Resolution); or (ii) in 
the event that the shareholders of the Company do not vote in favour of the 
termination of the Put Option Agreement, to amend the Put Option Agreement (the 
Second Resolution). 
The Company is pleased to announce that the First Resolution, as set out in the 
Notice of EGM circulated to shareholders on 28 September 2009, was duly passed 
on a poll.  The Second Resolution was also passed on a poll. However, in 
accordance with the terms of the Second Resolution, it will not become 
effective, as the First Resolution was passed. 
Details of the votes received are as follows: 
+-------------+------------+-----------+------------+-----------+ 
|             |          For           |        Against         | 
+-------------+------------------------+------------------------+ 
|             |  Number    |    %      |  Number    |    %      | 
+-------------+------------+-----------+------------+-----------+ 
| First       |62,414,073  |  81.69    |13,988,160  |   18.3    | 
| Resolution  |            |           |            |           | 
+-------------+------------+-----------+------------+-----------+ 
| Second      |74,994,073  |  98.16    | 1,408,160  |   1.84    | 
| Resolution* |            |           |            |           | 
+-------------+------------+-----------+------------+-----------+ 
*    The Second Resolution was conditional on the First Resolution not being 
passed. 
 Payment of Special Dividend 
In consideration for the termination of the Put Option Agreement, the Company is 
entitled to receive USD21.26 million in cash from Global Investment House 
K.S.C.C. Subject to receipt of this sum and the approval of the Company's Board, 
it is proposed that this sum be distributed to the Company's shareholders by way 
of a special dividend. A further announcement in relation to the amount of the 
special dividend, the record date for the dividend and the payment date for the 
dividend, will be made by the Company in due course. 
For information please contact: 
Alison Bilham 
HSBC Security Services (Guernsey) Limited 
 T: +44 (0)1481 707 
213 
Financial Dynamics    +44(0) 207 269 7114 
Ed Gascoigne-Pees 
Nick Henderson 
 
 
Notes to Editors 
About Global MENA Financial Assets Limited 
Global MENA Financial Assets Limited ("GMFA") is a Guernsey incorporated 
investment company formed on 2 June 2008 to make attractive absolute gains 
through investment in a diversified portfolio of financial sector assets focused 
predominantly in the MENA region (including Turkey). 
www.gmfa.com 
About Global Capital Management Ltd. 
Global Capital Management Ltd. is the wholly-owned subsidiary of Global 
Investment House K.S.C.C. The investment manager has one of the largest private 
equity teams in the MENA region. The team is organised into transaction, due 
diligence and organisational development and monitoring subgroups. The members 
of the private equity team have diverse sector and geographic experience in 
countries across the MENA and other emerging markets. The team collectively 
maintains a broad network of institutional relationships within the regions 
targeted for investments by GMFA. The private equity team currently manages 
assets more than US$3 billion. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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