SVC Salvesen (C)

RNS Number:4046H
Salvesen (Christian) PLC
09 November 2007

                             Christian Salvesen PLC



 Shareholder approval of recommended offer by Groupe Norbert Dentressangle S.A.



Results of the Court Meeting and Extraordinary General Meeting



Christian Salvesen PLC ("Christian Salvesen") announces that at the Court
Meeting and the Extraordinary General Meeting held earlier today to approve the
recommended offer (the "Offer") for Christian Salvesen by Groupe Norbert
Dentressangle, to be effected by way of a scheme of arrangement pursuant to
section 425 of the Companies Act 1985 (the "Scheme"), the resolutions proposed
received the overwhelming support of shareholders.



At the Court Meeting, a majority in number of Christian Salvesen shareholders
who voted (either by person or by proxy), representing over 75% by value of the
votes cast, voted in favour of the resolution to approve the Scheme.  The
resolution was accordingly passed.  At the Extraordinary General Meeting, the
resolution to provide for implementation of the Scheme and the resolution to
authorise the directors to amend the rules of Christian Salvesen's Deferred
Share Bonus Plan were also passed by the requisite majorities.



The voting of those members who cast votes either in person or by proxy at the
Court Meeting is summarised below:


Description of    Votes For      % Votes For    Votes Against   % Votes Against  Total Votes
Resolution                                                                       Cast

To approve the    166,605,629    99.84          272,388         0.16             166,878,017
Scheme



The resolutions at the Extraordinary General Meeting were passed on a show of
hands.  The proxy votes received by 11.15 a.m. on 7 November 2007 were as
follows - the "For" votes include those proxies giving the Chairman discretion:


Description of    Proxy Votes    % Proxy Votes   Proxy Votes     % Proxy Votes   Total Proxy     Proxy Votes
Resolution        For*           For             Against         Against         Votes Cast      Withheld
Special           166,540,196    99.83           290,729         0.17            166,830,925     480,020
Resolution to
provide for
implementation of
the Scheme

Ordinary          166,158,495    99.84           265,794         0.16            166,424,289     886,656
Resolution to
authorise the
directors to
amend the rules
of the Christian
Salvesen Deferred
Share Bonus Plan

* It should be noted that the appointment of a proxy is not an unequivocally
precise indicator of the way that the shareholder would have voted if a poll had
been held - it merely reflects his/her intention at the time the instruction was
given. Voting instructions can be changed at any time prior to a poll being
demanded and a shareholder, having lodged a proxy, may still attend the meeting
and vote his shares as he sees fit.



Copies of the resolutions passed at the Court Meeting and the Extraordinary
General Meeting have been submitted to the Financial Services Authority ("FSA")
and will shortly be available for inspection by the public at the FSA's Document
Viewing Facility which is situated at:  Document Disclosure Team, UK Listing
Authority, The Financial Services Authority, 25 The North Colonnade, Canary
Wharf, London E14 5HS (Tel: +44 (0)20 7066 8333) from 9.00am to 5.30pm on every
weekday except bank holidays.



Details of the poll carried out at the Court Meeting and the proxy votes cast
for, against and withheld in respect of the Extraordinary General Meeting will
be posted shortly in the Investor section of the Christian Salvesen website at
www.salvesen.com.



Expected Timetable



Completion of the Transaction remains subject to the satisfaction or, if
permitted, waiver of the Conditions set out in the Scheme Document including,
inter alia, the sanction of the Scheme by the Court of Session, Edinburgh,
Scotland.  The Court hearings to sanction the Scheme and to confirm the
reduction of Christian Salvesen's share capital are expected to take place on 12
December 2007 and 14 December 2007.  It is expected that the last day for
dealings in Christian Salvesen Shares will be 13 December 2007 and that the
Scheme will become effective on 14 December 2007.  As soon as practicable after
the Effective Date and, in any event, no later than fourteen days from the
Effective Date, Scheme Shareholders will receive the consideration due under the
Scheme.



Capitalised terms used and not otherwise defined in this announcement have the
same meanings as are set out in the Scheme Document dated 15 October 2007.



END





For further information:

Christian Salvesen PLC
Stewart Oades
Julian Steadman
Tel: +44 (0) 1604 737 100




UBS Limited
Sean Bennett
Tel: + 44 (0) 207 567 8000



Tulchan Communications Group
Stephen Malthouse
David Allchurch
Tel: +44 (0) 207 353 4200








                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

REGBLBITMMTMBJR

Christian Salvesen (LSE:SVC)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024

Christian Salvesen (LSE:SVC)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024