Etaireia Investments Plc
LSE : ETIP

February 07, 2014 06:45 ET

Notice of General Meeting

            
                                         ETAIREIA INVESTMENTS PLC
                                       ("Etaireia" or the "Company")
                                         
                                         Notice of General Meeting

Etaireia announces that notice has been sent to Shareholders convening a General Meeting of the Company  to
be held at 11 a.m. on, 24th February 2014 at 31 Lombard Street, London, EC3V 9BQ.

A summary of the resolutions to be proposed at the meeting is set out below:

Resolution  1  will  be proposed as an ordinary resolution seeks approval for the proposed  new  Investment
Strategy;

Resolution  2 will be proposed as an ordinary resolution, seeks to grant the Directors authority  to  allot
New Ordinary Shares in the capital of the Company; and

Resolution 3 will be proposed as a special resolution and is subject to the passing of Resolution 2,  seeks
to grant the Directors the power to dis-apply statutory pre-emption rights over certain shares.

The Directors of the Company accept responsibility for this announcement.
                                                 --ENDS--

Enquiries:

Etaireia Investments Plc
Greg Collier
Tel:  078 3018 2501

Peterhouse Corporate Finance Ltd
Fungai Ndoro
Tel:  020 469 0934

Below is an extract of the notice sent to Shareholders earlier today:

GENERAL MEETING

On  17  December  2013,  the Company announced the appointment of Stuart Black to the  board  of  Etaireia.
Following  a  strategic  review  of  the  Company's current  position,  the  Directors  believe  there  are
opportunities  in the property market that the Company can take advantage of. The Directors  are  therefore
proposing  to change the Company's investment strategy, focussing in this direction and to raise additional
funds to implement this strategy.



Accordingly, the Company is convening a General Meeting (the "General Meeting") for 11.00am on 24  February
2014,  at  which  resolutions  will  be proposed to adopt the new investment  strategy  and  authorise  the
Directors to issue further shares with minimal limitations ("Resolutions").



Proposed Investment Strategy

It is proposed that the Company remains an investment vehicle but changes its investment strategy to be one
that  is  focused on the property and real estate sector, with the objective being to provide  shareholders
with  strong  investment  returns  and  a balanced exposure to lower  risk  income  generating  assets  and
opportunities  that  will provide a higher capital return. The Company will look to invest  in  residential
schemes  as  well as commercial, retail and industrial property within the UK. The Directors will  look  to
purchase  assets  significantly undervalued by the current market. The Directors believe that  the  current
real  estate  market  in  the UK presents an unprecedented opportunity for investors  to  benefit  from  an
excellent gross rate of return.



It is envisaged that Etaireia's investment criteria will be as follows:

*  Etaireia  will  focus on property investments which provide a stable, predictable and  low  risk  income
stream, with opportunities to enhance value through active management;

*  Etaireia will also selectively pursue development or redevelopment opportunities where they can be  pre-
let to businesses with strong rental covenants, or in order to protect, enhance or extract additional value
from existing investments;

* Etaireia will invest in distressed property investments where opportunities arise as markets recover.

Investments  outside the above criteria will only be made where risk adjusted returns to  Shareholders  are
satisfactory  and  Etaireia  has  the  reserves  necessary to  extract  an  above-market  return  from  the
investments.

If  Resolution  1  is passed, the Company will be an investment vehicle focused in the  property  and  real
estate sector.

Dis-application of pre-emption rights and authority to allot shares

The  Company  will  be  looking to raise further funds in the near future, in order to  implement  its  new
investment  strategy with minimal limitation. As such, it is necessary for the Directors to seek  authority
from Shareholders at the General Meeting pursuant to the Companies Act 2006 to, issue shares for cash.  The
Directors are looking to raise additional funds for the Company, following the General Meeting, subject  to
Resolutions 2 and 3 being approved by Shareholders.

Full  details  of  the authorities the Directors are seeking at the General Meeting  are  set  out  in  the
attached notice of General Meeting.


Action to be taken

A  Form  of Proxy is enclosed, for use at the General Meeting.  Whether or not you intend to be present  at
the  General  Meeting,  you  are asked to complete, sign and return the Form  of  Proxy  to  the  Company's
registrars, Share Registrars Ltd, Suite E, First Floor, 9 Lion and Lamb Yard, Farnham, Surrey GU9  7LL,  as
soon  as  possible  but  in any event, so as to arrive no later than 11.00 am on  20  February  2014.   The
completion  and  return  of a Form of Proxy will not preclude you from attending the  General  Meeting  and
voting  in  person should you wish to do so.  Accordingly, whether or not you intend to attend the  General
Meeting in person, you are urged to complete and return the Form of Proxy as soon as possible.

Recommendations

The Directors consider that the Resolutions to be proposed at the General Meeting are in the best interests
of  the Company and Shareholders as a whole.  Accordingly, the Directors unanimously recommend Shareholders
to vote in favour of the resolutions to be proposed at the General Meeting.

Yours faithfully

Greg Collier
Chairman

Contact Information

  • Etaireia Investments Plc