Fotherington Insurance Group
a Second Life company
a Second Life company
CORPORATE - Investor Relations
Production of Financials
A full monthly Profit & Loss account, Balance Sheet, Cashflow Statement with supporting notes on Land, Investments and Insurance written will be published within 5 days of the month end, with an accompanying commentary in the Press Releases.
Shareholder Communications
It is expected that published communications with shareholders will occur:
1. when the monthly financials and commentary are produced
2. the mid-month dividend is paid
3. major events occur to the company that affect the outlook and propects for the company
4. within 2 weeks of the publication of the December, March, June and September financials a shareholder meeting will be held.
Issue of New Shares over 10% of the share capital
New share issues of over 10% of the share capital of the company can only be issued with the agreement of at least 75% of the shareholders voting and has the following conditions:
1. the new issue price and amount must be specified and put to a shareholder vote with a minimum of 2 weeks notice.
2. pre-emption rights shall be in place. that means, that existing shareholders can apply for a number of shares in proportion to their holding (i.e. if you hold 5% of the company, you can apply for 5% of the new issue)
3. The CEO is not permitted to vote on this matter.
4. pre-emption rights may only be disapplied if at least 75% of the shareholders voting agree. this is a separate vote. and agan the CEO may not vote on this matter.
Issue of New Shares of no more than 10% of the share capital
New share issues of no more than 10% of the share capital of the company can be issued at any time with the following conditions:
1. the shares can not be issued at more than a 5% discount to the current bid price
2. no more than 10% of the share capital can be issued in any 6 month period.
3. the company must seek shareholder approval to allow the issue of up to 10% of the share capital every 6 months. this approval remains valid for the next 6 months and the company can issue the shares at its discretion subject to the above.
A full monthly Profit & Loss account, Balance Sheet, Cashflow Statement with supporting notes on Land, Investments and Insurance written will be published within 5 days of the month end, with an accompanying commentary in the Press Releases.
Shareholder Communications
It is expected that published communications with shareholders will occur:
1. when the monthly financials and commentary are produced
2. the mid-month dividend is paid
3. major events occur to the company that affect the outlook and propects for the company
4. within 2 weeks of the publication of the December, March, June and September financials a shareholder meeting will be held.
Issue of New Shares over 10% of the share capital
New share issues of over 10% of the share capital of the company can only be issued with the agreement of at least 75% of the shareholders voting and has the following conditions:
1. the new issue price and amount must be specified and put to a shareholder vote with a minimum of 2 weeks notice.
2. pre-emption rights shall be in place. that means, that existing shareholders can apply for a number of shares in proportion to their holding (i.e. if you hold 5% of the company, you can apply for 5% of the new issue)
3. The CEO is not permitted to vote on this matter.
4. pre-emption rights may only be disapplied if at least 75% of the shareholders voting agree. this is a separate vote. and agan the CEO may not vote on this matter.
Issue of New Shares of no more than 10% of the share capital
New share issues of no more than 10% of the share capital of the company can be issued at any time with the following conditions:
1. the shares can not be issued at more than a 5% discount to the current bid price
2. no more than 10% of the share capital can be issued in any 6 month period.
3. the company must seek shareholder approval to allow the issue of up to 10% of the share capital every 6 months. this approval remains valid for the next 6 months and the company can issue the shares at its discretion subject to the above.
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