NBI.L Share News (NBI)

The Extraordinary General Meeting will be held at the offices of Buchanan Communications, 45 Moorfields, London EC2Y 9AE at 10.00 a.m. on 22 July 2010, at which the Resolutions will be proposed. A copy of the circular containing further details of the Placing and incorporating a notice of EGM and Form of Proxy will be posted to Shareholders later today, and will be available to download from the Company's website at: www.northbridgegroup.co.uk. Definitions +---------------------+---------------------------------------+ | "Acquisition" | the proposed acquisition of the | | | entire issued share capital of Tasman | | | by Northbridge Australia | +---------------------+---------------------------------------+ | "Acquisition | the proposed sale and purchase | | Agreement" | agreement relating to the Acquisition | +---------------------+---------------------------------------+ | "Act" | the Companies Act 2006 (as amended) | +---------------------+---------------------------------------+ | "Admission" | the admission of the Placing Shares | | | to trading on AIM becoming effective | | | in accordance with the AIM Rules | +---------------------+---------------------------------------+ | "AIM" | the market of that name operated by | | | the London Stock Exchange | +---------------------+---------------------------------------+ | "AIM Rules" | the AIM Rules for Companies | +---------------------+---------------------------------------+ | "Arbuthnot | Arbuthnot Securities Limited | | Securities" | | +---------------------+---------------------------------------+ | "Bank Facility" | a proposed five year term loan | | | facility of up to GBP3 million from | | | Bank of Scotland Plc at an interest | | | rate equal to LIBOR plus 3.25 per | | | cent. on indicative terms received by | | | the Company, subject to contract and | | | due diligence and satisfaction of | | | conditions precedent before | | | availability | +---------------------+---------------------------------------+ | "Company" or | Northbridge Industrial Services plc | | "Northbridge" | | +---------------------+---------------------------------------+ | "Completion" | completion of the Acquisition in | | | accordance with the terms of the | | | proposed Acquisition Agreement | +---------------------+---------------------------------------+ | "Consideration | 739,884 new Ordinary Shares to be | | Shares" | issued to the Vendor pursuant to the | | | Acquisition (assuming stated currency | | | conversion rate of GBP1:A$1.73) | +---------------------+---------------------------------------+ | "Crestchic" | Crestchic Limited, a wholly owned | | | subsidiary of the Company | +---------------------+---------------------------------------+ | "Deferred | the deferred consideration (if any) | | Consideration" | that may be payable by the Company in | | | relation to the Acquisition pursuant | | | to the Acquisition Agreement | +---------------------+---------------------------------------+ | "Directors" or the | the directors of Northbridge | | "Board" | | +---------------------+---------------------------------------+ | "Enlarged Group" | the Group, as enlarged by the | | | Acquisition, immediately following | | | Admission | +---------------------+---------------------------------------+ | "Enlarged Share | the 15,285,991 Ordinary Shares | | Capital" | (excluding the 152,150 Ordinary | | | Shares held by the Company as | | | treasury shares) in issue immediately | | | following Completion | +---------------------+---------------------------------------+ | "Existing Ordinary | the 9,092,257 Ordinary Shares in | | Shares" | issue at the date of this | | | announcement, of which 152,150 | | | Ordinary Shares are held by the | | | Company as treasury shares | +---------------------+---------------------------------------+ | "Extraordinary | the Extraordinary General Meeting of | | General Meeting" or | the Company convened for 10.00 a.m. | | "EGM" | on 22 July 2010 | +---------------------+---------------------------------------+ | "Group" | the Company and its subsidiary | | | undertakings | +---------------------+---------------------------------------+ | "LIBOR" | London Interbank Offered Rate | +---------------------+---------------------------------------+ | "London Stock | London Stock Exchange plc | | Exchange" | | +---------------------+---------------------------------------+ | "New Ordinary | the Consideration Shares and the | | Shares" | Placing Shares | +---------------------+---------------------------------------+ | "Notice of EGM" | the notice of Extraordinary General | | | Meeting of the Company to be held at | | | 10.00 a.m. on 22 July 2010 | +---------------------+---------------------------------------+ | "Ordinary Shares" | ordinary shares of 10p each in the | | | share capital of the Company | +---------------------+---------------------------------------+ | "Placees" | the subscribers or purchasers of | | | Placing Shares pursuant to the | | | Placing | +---------------------+---------------------------------------+ | "Placing" | the conditional placing by Arbuthnot | | | Securities of the Placing Shares | | | pursuant to the Placing Agreement | +---------------------+---------------------------------------+ | "Placing Agreement" | the agreement dated 29 June 2010 | | | between the Company, Smith & | | | Williamson and Arbuthnot Securities | | | in connection with the Placing | +---------------------+---------------------------------------+ | "Placing Price" | 125 pence per Placing Share | +---------------------+---------------------------------------+ | "Placing Shares" | the 5,606,000 new Ordinary Shares | | | which are proposed to be allotted and | | | issued pursuant to the Placing | +---------------------+---------------------------------------+ | "Resolutions" | the resolutions set out in the Notice | | | of EGM | +---------------------+---------------------------------------+ | "Shareholders" | holders of Ordinary Shares | +---------------------+---------------------------------------+ | "Smith & | Smith & Williamson Corporate Finance | | Williamson" | Limited, the Company's AIM nominated | | | adviser | +---------------------+---------------------------------------+ | "Tasman" | Tasman Oil Tools Pty Ltd | +---------------------+---------------------------------------+ | "Vendor" | Cata Pty Ltd | +---------------------+---------------------------------------+ All references in this announcement to "GBP" or "p" are to the lawful currency of the United Kingdom and all references to "A$" are to the lawful currency of Australia. Unless otherwise stated, the following exchange rate is used throughout this announcement: GBP1 = A$1.73 Ends This information is provided by RNS The company news service from the London Stock Exchange END MSCKKCDNFBKDCAB (END) Dow Jones Newswires June 30, 2010 02:00 ET (06:00 GMT)