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Normandy Limited – Resolution for Increase in Authorised Share Capital
Hamilton, Bermuda – November 1, 2017 - In a filing with the Bermuda Stock Exchange (“BSX”), Normandy Limited ("Normandy", the "Company”; Ticker: NORL.BH), announces Resolution for Increase in Authorised Share Capital. The full filing stated:
The Company today announces that the Board has proposed an increase to the authorised share capital of the Company from GBP1,000,000 to GBP5,000,000. This increase in authorised share capital is being proposed by the Board in order for the Company to be able to raise additional funds to invest in suitable opportunities in line with the Company's strategic focus, goals and objectives.
In order for this increase in authorised share capital to occur, a majority of shareholders must approve a written shareholder resolution which will be posted to all shareholders today. Those directors who are shareholders of the Company have irrevocably undertaken to approve the resolution. As those directors have a combined holding of approximately 67% of the Company's issued share capital, the resolution is expected to be approved today.