Hanseatic & Baltic Properties plc
LSE : HBPO

August 02, 2011 09:47 ET

Result of AGM

H. B. PROPERTIES PLC
RESULT OF ANNUAL GENERAL MEETING


H.  B. Properties Plc ("the Company") is pleased to announce that at today's Annual General Meeting all  of
the resolutions were passed.

Other than the ordinary annual business the following resolutions were also passed:-

    -   To  authorise  and approve the new investment strategy to extend the scope  of  the  Company's
        activities to include businesses in the financial sector that are concerned with real estate or otherwise
        offer opportunities for capital growth and earnings, and attractive residential and property investment
        opportunities  in  all parts of the world; and to broaden the strategy to include acquisitions  and
        investments.

    -   THAT the name of the Company be changed to "H.B. Properties Plc", subject to the consent of the
        registrar of Companies.

    -   To  authorise the Directors be generally and unconditionally authorised to allot shares in the
        Company or grant rights to subscribe for or to convert any security into shares in the Company ("Rights")
        up to an aggregate nominal amount of GBP1,000,000. This authority shall, unless renewed, varied or revoked
        by the Company, expire on the earlier of the conclusion of the Annual General Meeting of the Company to be
        held in 2012 or the date falling fifteen months after the passing of this Resolution save that the Company
        may, before such expiry, make an offer or agreement which would or might require shares to be allotted or
        Rights to be granted and the Directors may allot shares or grant Rights in pursuance of such offer or
        agreement notwithstanding that the authority conferred by this Resolution has expired. This authority is in
        substitution for all previous authorities conferred on the Directors in accordance with Section 551 of the
        Companies Act 2006, but without prejudice to any allotment of shares or grant of Rights already made or
        offered or agreed to be made pursuant to such authorities.

    -   To  authorise the Directors pursuant to Section 551 of the Companies Act 2006 to allot  equity
        securities (within the meaning of Section 560 of the Companies Act 2006) of the Company for cash pursuant
        to the authority conferred on them by Resolution 5 to allot relevant securities as if Section 561(1) of the
        Companies Act 2006 did not apply to any such allotment. This power shall (unless previously revoked or
        varied by the Company in General Meeting) expire fifteen months after the date of the passing of this
        Resolution or at the conclusion of the Annual General Meeting of the Company to be held in 2012 whichever
        first occurs save that the Company may, before such expiry, make an offer or agreement which would or might
        require equity securities to be allotted after such expiry and the Directors may allot equity securities in
        pursuance of such an offer or agreement as if the power conferred hereby had not expired.


The Directors of the Issuer accept responsibility for this announcement.

FOR FURTHER INFORMATION PLEASE CONTACT:

Leo Knifton
Hanseatic & Baltic Properties PLC
Finsgate
5-7 Cranwood Street
London
EC1V 9EE

Tel:  +44 (0) 20 7309 2281
Fax: +44 (0) 20 7566 0023

Nick Michaels
Alfred Henry Corporate Finance Limited

Tel:  +44 (0) 20 7251 3762

Contact Information

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