Last checked at 26 Oct 2007 15:30
CORSIE GROUP PLC
PROPOSED SHARE CAPITAL CONSOLIDATION AND NOTICE OF GENERAL MEETING
The Board of Corsie Group plc (the "Company"), the AIM listed specialist in the assembly and sale of the products and services to the leisure market, is pleased to announce that it is today posting a circular to its shareholders convening a general meeting (the "General Meeting") of shareholders at which a consolidation of the Company's existing ordinary shares on the basis of 1 new ordinary share of 2 pence each for every 20 existing ordinary shares of 0.1 pence each is proposed. 20 warrants will therefore need to be exercised in order to receive 1 new ordinary share at a subscription price of 60 pence. This consolidation requires a very slight increase in the issued share capital of the Company to arrive at a figure that is exactly divisible by 20.
Details of these proposals are contained in the circular convening the General Meeting, which also contains certain proposed minor amendments to the Company's articles of association that the Board believes would be appropriate to make in light of certain sections of the Companies Act 2006 having come into force on 1 October 2007. The General Meeting is being convened for 11 a.m. on Monday, 19 November 2007.
Copies of the circular convening the General Meeting are available on the Company's website (www.corsiegroup.com) and will be available for a period of one month from the date of this announcement, free of charge, during normal business hours on any weekday (Saturday, Sunday and public holiday excepted) at the Company's registered office address at 5 Gateside Commerce Park, Haddington, EH41 3ST.
Enquiries:Corsie Group plc Tel: 01620 828 940 Richard Corsie, MBE, Chief Executive www.corsiegroup.com City Financial Associates Limited Tel: 020 7492 4777 James Caithie Bishopsgate Communications Ltd Tel: 020 7562 3350 Dominic Barretto
Jenni Herbert
CORSIE GROUP PLC