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ZTC Telecoms plc (ZTC)

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Tuesday 21 April, 2009

ZTC Telecoms plc

Results of AGM, Board Change

RNS Number : 9024Q
ZTC Telecommunications plc
21 April 2009

ZTC Telecommunications Plc

Results of the Annual General Meeting, Board Changes and Total Voting Rights

ZTC Telecommunications Plc (the 'Company') confirms that all the resolutions put to shareholders at the Company's Annual General Meeting held today were duly passed. 

Following the passing of the resolutions, it is expected that the change of name of the Company to China Evoline Plc will be implemented with immediate effect and the record date for the share capital reorganisation will be 6 pm on 22 April 2009 (the 'Record Date')The disposal of Praise Ease Limited has been completed and the investment agreement entered into on 27 March 2009 with Wellhigh and Staybest (the 'Investment Agreement') has become unconditional (save only for the condition as to Admission). 

Further to the Investment Agreement, the Company will issue 92,885 new ordinary shares of 1p each at a placing price of 23p to Staybest Limited (the 'Subscription Shares') with effect from the Record DateFollowing the completion of the share capital reorganisation, Staybest Limited will be interested in 228,885 ordinary shares of 1p each in the Company which will represent 73.77 per cent of the issued share capital of the Company.

Application has been made to the London Stock Exchange for the 217,380 ordinary shares of 1p each, deriving from the reorganisation of the Company's old ordinary shares of 10p each as a result of the share capital reorganisation and the Subscription Shares to be admitted to trading under the Company's new name, China Evoline plc. The ordinary shares of 1p each are expected to be admitted to trading on 23 April 2009 ('Admission') and the current suspension of trading in the Company's shares is expected to be lifted.

Following Admissionthe Company will have a total of 310,265 voting ordinary shares of 1p each in issue, none of which are held in treasury.

Further to the announcement made by the Company on 30 March 2009, the Company has today appointed each of Mr. Jian (aka Jeffrey) Xin, Mr. Xuedong (aka Louge) Lou and Mr. Yumao Zheng as non-executive directors of the Company


ZTC Telecommunications plc 

Frank Lewis, Chairman 

+44 (0)7775 504 313 

Fairfax I.S. PLC 

Nominated Adviser and Broker 

Adam Hart / Laura Littley 

+44 (0)207 598 5368

This information is provided by RNS
The company news service from the London Stock Exchange

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