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Webb Capital Plc (WCAP)

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Friday 01 April, 2011

Webb Capital Plc

Replacement: Outcome of the General Meeting of ...


                               Webb Capital plc                                

                                  Replacement                            

The following replaces in full the "Outcome of the General Meeting of BWA Group
plc" announcement released on Friday 1 April 2011 at 0700.

 Outcome of the General Meeting of BWA Group plc requisitioned by Webb Capital 
                              plc and Peter Webb   

On 23 February 2011, Webb Capital plc ("the Company") the PLUS Markets quoted
financial services group announced that it had written to the Directors of PLUS
quoted BWA Group plc (`BWA') to request that the Directors of BWA convene a
General Meeting at which Resolutions be proposed to remove Mr Richard Battersby
and Mr James Butterfield as Directors and to appoint Mr Peter Webb and Mr
Dwight Mighty to serve in their place.

The letter was sent on behalf of the Company, which holds a 9.9 per cent
shareholding in BWA and Mr Peter Webb and family who hold a 14.9 per cent
shareholding.

At the General Meeting of BWA held today, the Resolutions proposed were
defeated by a small margin.

With 47.8 per cent of the votes cast supporting the Resolutions proposed by the
Company and Peter Webb, it is clear that it is not only Peter Webb and the
Company who are disappointed with the performance of the Board of BWA and see
the need for change.

Commenting on the outcome of the meeting Peter Webb, CEO of Webb Capital said:

We are grateful to shareholders who supported us in seeking to instigate change
at BWA.

Considering that over 90 per cent of the Board vote was achieved through the
signing of irrevocable undertakings before the Notice of Meeting was posted and
we had the opportunity to explain our case for change, we consider the result
justifies our decision to take action.

It is our intention to seek a meeting with the Board of BWA at the earliest
opportunity to seek an outcome in the interest of all shareholders.'

 The Directors accept responsibility for this announcement.

A copy of this announcement is available on www.webbcapital.com

For further information

Webb Capital plc
Peter Webb - Chief Executive Tel: 020 7634 9510

Daniel Stewart & Co plc
Paul Shackleton Tel: 020 7776 6550


                           

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