Last checked at 24 Apr 2013 13:09
24 April 2013
Progressive Digital Media Group plc
Result of Annual General Meeting ("AGM") and General Meeting ("GM")
Progressive Digital Media Group plc ("PDMG" or the "Company") announces that, at the AGM of the Company held earlier today, all resolutions put to shareholders were duly passed.
The Company is also pleased to announce that, at the GM which followed the conclusion of the AGM, the resolutions put to shareholders in connection with the consolidation and sub-division of the Company's ordinary share capital (the "Consolidation and Sub-Division") and the reduction of capital by way of the cancellation of the Company's share premium account (the "Capital Reduction"), as announced on 26 March 2013 and as set out in the Notice of General Meeting annexed to the circular of the Company posted to shareholders on the same date (the "Circular"), were duly passed.
The results of the proxy votes lodged in advance of the AGM and GM will be available on the Company's website (http://www.progressivedigitalmedia.com) shortly.
The Capital Reduction is subject to confirmation at a hearing of the Court currently scheduled for 22 May 2013.
The Consolidation and Sub-Division is conditional upon the admission of the New Ordinary Shares arising on the Consolidation and Sub-Division to trading on AIM ("Admission"). Accordingly, application has been made to the London Stock Exchange for 74,486,720 New Ordinary Shares to be admitted to trading on AIM. It is expected that Admission will become effective and that dealings will commence in the New Ordinary Shares (and, where applicable, CREST members' accounts credited in respect of the New Ordinary Shares in uncertificated form) at 8.00 a.m. on 25 April 2013.
Despatch of definitive certificates for the New Ordinary Shares in certificated form is expected to occur by 10 May 2013. Share certificates in respect of Existing Ordinary Shares will no longer be valid from Admission, and should be destroyed upon receipt of the replacement certificate.
Following Admission, the Company's issued ordinary share capital will consist of 74,486,720 ordinary shares of 1/14 pence each, each with voting rights. There are no ordinary shares held in treasury. Therefore, in accordance with the Disclosure and Transparency Rule 5.6.1, the Company confirms that following Admission, the total number of voting rights in PDMG will be 74,486,720.
Following Admission, the SEDOL and ISIN codes for the New Ordinary Shares will be B87ZTG2 and GB00B87ZTG26, respectively.
Terms used in this announcement (unless otherwise defined) shall have the same meaning as set out in the Circular.
Enquiries:
Progressive Digital Media Group plc 0207 936 6400
Mike Danson, Chairman
Simon Pyper, Group Managing Director
N+1 Singer 0207 496 3000
James Maxwell
Nick Donovan
Hudson Sandler 0207 796 4133
Nick Lyon