7 Feb 2012 16:00
Dods (Group) plc ("Dods" or the "Company")
Result of Extraordinary General Meeting and Directorate Change
The Board of Dods is pleased to announce that at the Company's Extraordinary General Meeting held earlier today all of the resolutions were duly passed, including the approval of the placings of 200,000,000 new ordinary shares at 5.5 pence per ordinary share to raise approximately GBP11.0 million before expenses (the "Placing"), the acquisition of the DeHavilland Political Intelligence division of Emap Limited (the "Acquisition"), the approval of waiver of Rule 9 of the City Code and the Capital Reorganisation.
The completion of the Placing and the Acquisition remains conditional on confirmation that the Acquisition is not a relevant merger situation under Section 33 of the Enterprise Act 2002 or will not be referred to the Competition Commission and admission of the New Ordinary Shares. Updates will be provided as to these conditions as and when appropriate.
Application is being made, following the Capital Reorganisation, to AIM for the 151,998,453 ordinary shares of 1 penny each to be admitted to trading on 13 February 2012. Further applications will be made in relation to the Placings at the appropriate time.
Directorate change
In addition Rupert Levy, the Company's Finance Director, has expressed his intention to resign from the Board and will leave the Company in April following the Company's scheduled announcement of its 2011 Preliminary Results and the anticipated completion of the Acquisition.
He is leaving to take up the CFO position as part of the Briefing Media Group management team that yesterday announced that it had entered into an agreement to purchase the UK agriculture and medical general practitioner portfolios of UBM plc.
The Board would like to thank Rupert for his contribution to Dods since he joined in 2008 and wish him every success in his future career. The recruitment process is already underway with a view to there being an orderly handover period and seamless succession.
Definitions used in this announcement have the same meaning as those used in the Company's announcement of 12 January 2012.
For further information please contact:
Dods (Group) plc +44 (0)20 7593 5500
Gerry Murray, Chief Executive
Cenkos +44 (0)20 7397 8900
Nicholas Wells / Adrian Hargrave