Publication of annual report

RNS Number : 4860A

Spice PLC

01 August 2008

 



1 August 2008

Spice plc ('Spice' or the 'Company')

Publication of 2008 annual report & financial statements and notice of AGM

Spice, the provider of Total Utility Support Services, has published its 2008 Annual Report and Financial Statements and notice of AGM. The AGM is to be held at 2.00 pm on 3 September 2008 at Yorkshire Sculpture Park, Bretton Hall, West Bretton, Wakefield WF4 4LG.

In addition to customary AGM resolutions, the Notice of AGM contains at resolution 8 proposals to subdivide the Company's ordinary share capital on the basis of five New Ordinary Shares of 2 pence each for every Existing Ordinary Share of 10 pence each held.  The Directors believe that having a larger number of tradable shares with a lower value will assist in improving the liquidity of the Company's shares and should support the attraction and retention of a diverse shareholder base. The financial position of the Company will not be affected by the Share Split, nor will the Company's assets, liabilities or shareholders' funds be reduced. The Company's authorised and issued share capital will remain at the same amounts. Immediately after the Share Split becomes effective, each shareholder will hold the same percentage in the issued ordinary share capital of the Company as that shareholder held immediately before the Share Split becomes effective. Save for taking into account the greater number of shares in issue, the Directors do not intend to alter the dividend policy adopted by the Company as a result of the Share Split.

The New Ordinary Shares will, in all respects, rank pari passu with and be subject to the same rights and restrictions as the Existing Ordinary Shares and, in particular, the holders of New Ordinary Shares will have the same rights to participate in dividends or income of the Company as the holders of Existing Ordinary Shares save that the New Ordinary Shares will not rank for, nor will they be entitled to receive, the proposed final dividend of 4.5 pence per Existing Ordinary Share payable on 16 September 2008 to shareholders on the register at the close of business on 29 August 2008.

The Share Split is conditional upon:

1) the approval of shareholders at the Annual General Meeting of Resolution 8; and

2) Admission.

If Resolution 8 is passed, a request will be made for Admission. The Share Split is expected to become Effective and dealings in the New Ordinary Shares are expected to commence at 8.00 am on 8 September 2008.

For holdings in uncertificated form, it is expected that the appropriate share accounts in CREST will be credited with shareholders' entitlements to New Ordinary Shares with effect from 8 September 2008. For holdings in certificated form, it is expected that new share certificates for New Ordinary Shares will be sent to shareholders (at their own risk) on 15 September 2008.

Copies of the Notice of Annual General Meeting, together with the 2008 Annual Report and Financial Statements have been submitted to the UK Listing Authority and will shortly be available for inspection at its Document Viewing Facility, which is situated at:

Financial Services Authority

25 The North Colonnade

Canary Wharf

London E14 5HS

Telephone number 020 7066 1000

The Notice of Annual General Meeting and the 2008 Annual Report and Financial Statements is also available to view on Spice's website at:

http://www.spiceplc.com/

Enquiries:

Spice plc Simon Rigby, Chief Executive Officer                                     Oliver Lightowlers, Group Finance Director Andy Catchpole, Group Strategy and Development Director	Tel: [phone]
Financial Dynamics Billy Clegg                                                                             Caroline Stewart	Tel: [phone]

NOTES TO EDITORS

Spice plc

Spice is a total utility infrastructure support services business. The Group's operations were founded in 1996 and have their origins in the electricity industry, though the range of activities has since been expanded into the water sector, niche telecommunications services, statutory gas inspections, energy management and facilities management. Spice's businesses have a common theme of delivering and co-ordinating infrastructure services to customers, and the technological element within the product mix has been built up significantly over the course of the last three years.

 

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