ASH.L Regulatory News (ASH)

11 Jun 2008 10:50



Ashley House plc ("Ashley House" or "the Company")

Results of General Meeting

All Resolutions Passed

On 19 May 2008 Ashley House announced that the Company had entered into a conditional agreement with international investment and specialised fund and asset management group, Babcock & Brown, to acquire a controlling interest in the private sector partner in seven NHS Local Improvement Finance Trust franchises ("the Acquisition"). Further to that announcement, the Company is pleased to announce that at the General Meeting (GM) held earlier today, all the resolutions contained in the circular posted to shareholders in relation to the Acquisition were duly passed.

Babcock & Brown has exercised its existing warrant over 7,880,000 Ordinary Shares at an exercise price of 120p per Ordinary Share, and as part of the consideration for the Acquisition, Ashley House has issued 8,000,000 Ordinary Shares to Babcock & Brown Investment Holdings Pty Ltd (referred to together as the "New Ordinary Shares"). Following the completion of the Acquisition, Babcock & Brown will be interested in 15,880,000 Ordinary Shares representing 36.6 per cent. of the Enlarged Share Capital.

The New Ordinary Shares will rank parri passu in all respects with the Ordinary Shares, including the right to receive all dividends and other distributions thereafter declared, made or paid on the New Ordinary Shares. 

The Acquisition is due to complete on 12 June 2008 following the admission to trading of the New Ordinary Shares issued as part of the consideration for the Acquisition. Trading of the New Ordinary Shares on AIM is expected to commence on 12 June 2008. A further announcement will be made in due course.