Guernsey, 12 March 2012 - In accordance with the Company's Articles of Incorporation, the announcement is hereby made that an Extraordinary General Meeting of the Company will be held at the Company's registered office, First Floor, Dorey Court, Admiral Park, St Peter Port, Guernsey GY1 6HJ, Channel Islands, at 10:00am (London time) on 23 April 2012.
The main reason for the Directors to convene such EGM is to facilitate the Company entering into a liquidity enhancement contract with a bank or a broker.
Please note that, at the time of this notice the aggregate number of shares is 30,932,216 and that the voting rights are limited to 24,978,459 shares considering that one of the largest shareholder is limited in its voting rights.
The Agenda of this EGM is the following (see attached EGM Notice for more details):
Special Business:
To renew the authorisation of the Company unconditionally and generally for the purposes of Section 315 of the Companies (Guernsey) Law, 2008 to make market purchases of ordinary shares in the Company provided that:
The maximum number of ordinary shares in each class authorised to be purchased is 14.99% of each class of the ordinary shares in issue at any time.
The minimum price payable by the Company for each ordinary share is 1% of the average of the mid-market values of the ordinary shares of that class in the Company for the five business days prior to the date of the market purchase and the maximum price payable by the Company for each ordinary share will not be more than:
105% of the average of the mid-market values of the ordinary shares of that class in the Company for the five business days prior to the date of the market purchase; and
Provided always that the market purchase will meet the criteria stipulated in the Commission Regulation (EC) of 22 December 2003 implementing the Market Abuse Directive as regards exemptions for buy-back programmes and stabilisation of financial instruments (No 2273/2003); (unless the purchases would not bear the risk of breaching the market manipulation prohibition);
c. Such authority shall expire at the conclusion of the next Annual General Meeting of the Company.
*****
ABOUT VOLTA FINANCE LIMITED
Volta Finance Limited is incorporated in Guernsey under the Companies (Guernsey) Laws, 1994 to 1996 (as amended) and listed on Euronext Amsterdam. Its investment objectives are to preserve capital and to provide a stable stream of income to its shareholders through dividends. For this purpose, it pursues a multi-asset investment strategy targeting various underlying assets. The assets that the Company may invest in either directly or indirectly include, but are not limited to: corporate credits; sovereign and quasi-sovereign debt; residential mortgage loans; automobile loans. Volta Finance Limited's basic approach to its underlying assets is through vehicles and arrangements that provide leveraged exposure to some of those underlying assets.
Volta Finance Limited has appointed AXA Investment Managers Paris, an investment management company with a division specialised in structured credit, for the investment management of all its assets.
ABOUT AXA INVESTMENT MANAGERS
AXA Investment Managers (AXA IM) is a multi-expert asset management company within the AXA Group, a global leader in financial protection and wealth management. AXA IM is one of the largest European-based asset managers with €514 billion in assets under management as of the end of June 2011. AXA IM employs approximately 2,389 people around the world and operates out of 21 countries.
CONTACTS
Company Secretary
State Street (Guernsey) Limited
volta.finance@ais.statestreet.com
+44 (0) 1481 715601
Guernsey, 12 March 2012 - In accordance with the Company's Articles of Incorporation, the announcement is hereby made that an Extraordinary General Meeting of the Company will be held at the Company's registered office, First Floor, Dorey Court, Admiral Park, St Peter Port, Guernsey GY1 6HJ, Channel Islands, at 10:00am (London time) on 23 April 2012.
The main reason for the Directors to convene such EGM is to facilitate the Company entering into a liquidity enhancement contract with a bank or a broker.
Please note that, at the time of this notice the aggregate number of shares is 30,932,216 and that the voting rights are limited to 24,978,459 shares considering that one of the largest shareholder is limited in its voting rights.
The Agenda of this EGM is the following (see attached EGM Notice for more details):
Special Business:
To renew the authorisation of the Company unconditionally and generally for the purposes of Section 315 of the Companies (Guernsey) Law, 2008 to make market purchases of ordinary shares in the Company provided that:
The maximum number of ordinary shares in each class authorised to be purchased is 14.99% of each class of the ordinary shares in issue at any time.
The minimum price payable by the Company for each ordinary share is 1% of the average of the mid-market values of the ordinary shares of that class in the Company for the five business days prior to the date of the market purchase and the maximum price payable by the Company for each ordinary share will not be more than:
105% of the average of the mid-market values of the ordinary shares of that class in the Company for the five business days prior to the date of the market purchase; and
Provided always that the market purchase will meet the criteria stipulated in the Commission Regulation (EC) of 22 December 2003 implementing the Market Abuse Directive as regards exemptions for buy-back programmes and stabilisation of financial instruments (No 2273/2003); (unless the purchases would not bear the risk of breaching the market manipulation prohibition);
Such authority shall expire at the conclusion of the next Annual General Meeting of the Company.
To renew the authorization of the Company to issue an unlimited number of shares in accordance with Article 39 of the Memorandum and Articles of Incorporation of the Company for a further period of five years.
To authorise the Company to hold its shares as treasury shares in accordance with The Companies (Guernsey) Law, 2008.
*****
ABOUT VOLTA FINANCE LIMITED
Volta Finance Limited is incorporated in Guernsey under the Companies (Guernsey) Laws, 1994 to 1996 (as amended) and listed on Euronext Amsterdam. Its investment objectives are to preserve capital and to provide a stable stream of income to its shareholders through dividends. For this purpose, it pursues a multi-asset investment strategy targeting various underlying assets. The assets that the Company may invest in either directly or indirectly include, but are not limited to: corporate credits; sovereign and quasi-sovereign debt; residential mortgage loans; automobile loans. Volta Finance Limited's basic approach to its underlying assets is through vehicles and arrangements that provide leveraged exposure to some of those underlying assets.
Volta Finance Limited has appointed AXA Investment Managers Paris, an investment management company with a division specialised in structured credit, for the investment management of all its assets.
|
