Evolution Group PLC
29 March 2001
The Evolution Group Plc ('the Company') (formerly EVC Christows Plc)
Acquisition
As announced on Monday 26 March 2001 all Resolutions set out in the circular
dated 2 March 2001 ('the Circular') were duly passed at the EGM, in addition
to which the 2.5p Warrantholders' Resolution was also duly passed.
Following the EGM and 2.5p Warrantholders' Meeting the acquisition of
Evolution Capital Limited ('Evolution') was completed today (save for
admission to AIM of the New Ordinary Shares allotted in consideration for the
Acquisition becoming effective) in addition to which the Company acquired the
0.6 per cent. of Evolution Capital Limited owned by Oliver Vaughan, the
chairman of the Company, who will become a non-executive director with effect
from the Acquisition becoming wholly unconditional. At the same time, the
additional board changes set out in the Circular and the announcement dated 2
March 2001 will also become effective.
Accordingly dealings are expected to commence in the 17,451,757 New Ordinary
Shares allotted to the Vendors and Mr Vaughan in consideration for Evolution
with effect from the start of business on 2 April 2001.
A review of the Company's private equity portfolio by Evolution is currently
underway. Once this review is complete the Company will release its results
for the year ended 31 December 2000.
Definitions set out in the Company's circular dated 2 March 2001 apply
throughout this announcement unless the context otherwise requires.
Further enquiries: Alex Snow - Chief executive 020 7444 1730
Adrian Graham - Finance director 020 7937 4445
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