On 19 April, GO plc published its 2011 Annual Report and this was distributed to all shareholders including the agenda for the meeting which is being held on Wednesday 9 May. Apart from the ordinary resolutions customary at all general meetings, the agenda for GO’s AGM includes 6 special resolutions following a request made by a number of shareholders in terms of the company announcement issued on 12 March, wherein it indicated that a shareholder or a group of shareholders owning not less than 5% of the total issued share capital can request the company to place items on the agenda for discussion. The 6 resolutions are as follows:
1. To assess the investment in Forthnet indirectly held through Forgendo and any liabilities arising therefrom;
2. To provide a detailed account of the developments leading up to the exchange of properties announced in the company announcement dated 24 February 2012 including the property valuations carried out in respect of the Qawra land and the eleven properties consisting of the telephone exchanges;
3. To consider that decisions related to future material transactions similar to those regarding the Qawra property and the investment in Greece, will be taken after due consultation with shareholders;
4. To consider that prior to the contemplation of any further investments in Forgendo and/or Forthnet or any such other foreign investment, the objects of the company are amended subject that the powers granted to the Directors under clause (h) of the present Memorandum & Articles of Association of the Company are only applicable following consent during the General Meeting of shareholders and after approval by at least 75% of the members;
5. To discuss the recent decision by the Directors to skip dividend payment for 2011 and enact a revised dividend policy based on the annual cash surpluses of the Company as well as to consider including the necessary resolution to enable the Company to adopt a share buy-back programme within pre-determined terms at the earliest opportunity;
6. To consider a vote of no confidence in the present Board of Directors and senior executives of the management team.