Proven Investments Limited has advised of the following resolutions passed at its Extraordinary General meeting held on November 30, 2011:
1. That pursuant to Regulation 24 of the Company’s Articles of Association, the Directors be and hereby authorized to increase the authorized share capital of the company from (i) 10,000 preference stock units with a par value of $US0.01 each, by the creation of an additional 300,000,000 Cumulative Redeemable Preference Share having a par value of $US0.01 in the capital of the Company (the “Cumulative Redeemable Preference Shares”) having such designations, powers, preference, rights, qualification, limitations and restrictions whether in regard to dividend, voting, return of capital or otherwise as may be fixed by the Directors of the Company pursuant of Regulation 5 of the Company’s Articles of Investment Manager beng first had and obtained in accordance with Regulation 126 of the Company’s Articles of Association.
2. That such Cumulative Redeemable Preference Shares may, if the Directors shall so decide, be converted to Cumulative Redeemable Preference Stock Units upon issue, and that the Directors be authorized to apply for listing of such stock units on the Jamaica Stock Exchange.
