Result of AGM

RNS Number : 6714C

Spice PLC

03 September 2008

 

3 September 2008

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

2008 Annual General Meeting Resolutions

Spice, the provider of Total Utility Support Services, is pleased to announce that at its 2008 Annual General Meeting held earlier today, all resolutions proposed at the meeting were duly passed on a show of hands. The number of votes which were lodged by proxy for and against each of the resolutions proposed, and the number of votes withheld was as follows:

Resolution	Votes for	Chairman's discretion	Votes against	Votes withheld	Total votes cast
1. Annual report	23,834,017	26,131	379,279	0	24,239,427
2. Final dividend	24,213,644	25,783	0	0	24,239,427
3. Reappoint auditors	24,211,722	27,563	0	142	24,239,427
4. Re-elect Oliver Lightowlers	24,193,520	29,381	16,526	0	24,239,427
5. Re-elect John Taylor	23,749,109	29,381	460,937	0	24,239,427
6. Re-appoint Andy Catchpole	24,193,520	29,381	16,526	0	24,239,427
7. Re-appoint Peter Cawdron	24,192,520	29,381	17,526	0	24,239,427
8. Subdivide shares	24,212,654	21,206	5,567	0	24,239,427
9. Allot relevant securities	24,194,824	25,536	1,965	17,102	24,239,427
10. Allot equity securities	24,209,932	25,536	3,357	602	24,239,427

The total number of shares in issue that were eligible to vote were 60,008,074.  

Resolutions 8 to 10 were special business.

In particular, shareholders of the Company ("Shareholders") approved a resolution to subdivide the Company's ordinary share capital ("Share Split") on the basis of five new ordinary shares of 2 pence each ("New Ordinary Shares") for every existing ordinary share of 10 pence each held ("Existing Ordinary Shares"). Immediately following the Share Split, the Company's issued share capital capital will be 300,040,370 ordinary shares of 2 pence each.

As a result of the Share Split each Shareholder will still hold the same percentage in the issued ordinary share capital of the Company as that Shareholder held immediately before the Share Split becomes effective and 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. 

The Share Split remains conditional upon admission of the New Ordinary Shares to the Official List and to trading on the London Stock Exchange ("Admission"), for which a request has been made.  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. The new ISIN for the New Ordinary Shares is GB00B3CG9C16.

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.

A copy of the resolutions dealing with the special business will shortly be submitted to the UK Listing Authority's Document Viewing Facility ("DVF")at Financial Services Authority, 25 The North Colonnade, Canary Wharf, London, E14 5HS.

The circular ("Circular") relating to the proposed placing by the Company to raise £50 million, as referred to in the announcement by the Company this morning, will be posted to shareholders of the Company later today. A copy of the Circular will shortly be submitted to the DVF at the address detailed above.

Enquiries:

Spice plc

Simon Rigby, Chief Executive Officer                                               Tel: [phone]

Oliver Lightowlers, Group Finance Director

Andy Catchpole, Group Strategy and Development Director

Financial Dynamics                                                                       Tel: [phone]

Billy Clegg  

Caroline Stewart

KBC Peel Hunt (Broker)                                                              Tel: [phone]

Julian Blunt

Daniel Harris

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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