Dewhurst Regulatory News (DWHT)

6 Jan 2006 17:04

Dewhurst PLC06 January 2006 Dewhurst Plc ("Dewhurst" or "the Company") Publication of Circular regarding Acquisition of TMP Limited and Cancellation of Listing The Company has today posted a circular to shareholders in relation, inter alia,to the proposed acquisition of Traffic Management Products Limited, thecancellation of listing on the Official List and the admission of the Company totrading on AIM and notice of an Extraordinary General Meeting to be held on 24January 2006. The Directors believe that there are a number of benefits for the Company intransferring its listing to AIM from the Official List. AIM is more appropriatefor a company of Dewhurst's size; it offers the advantage of greaterflexibility, particularly with regard to corporate transactions and relatedcosts. In addition, there are possible beneficial tax consequences forindividual Shareholders. The AIM Rules require that the Company appoints a nominated adviser and brokerbefore its shares are admitted to trading on AIM and Seymour Pierce has agreedto act in these roles. The Board is aware that there may be circumstances in which certain Shareholdersmay be prohibited from investing in AIM shares: AIM shares are not allowed to beheld in a personal equity plan or an individual savings account. SuchShareholders are advised to review their position in this respect as soon aspossible and take independent professional advice if necessary. If the Cancellation is approved, the Company intends to apply for thecancellation of the listing of its Ordinary Shares and A Non Voting OrdinaryShares on the Official List to become effective at 7.30 am on 22 February 2006. Further, application will be made for the Ordinary Shares and A Non VotingOrdinary Shares to be admitted to trading on AIM and it is expected thatAdmission will be effective on 22 February 2006, immediately following theCancellation. Shareholders should note that the cancellation of the listing ofthe Shares on the Official List requires to be approved at the ExtraordinaryGeneral Meeting to be held on 24 January 2006 Copies of the circular have been submitted to the Financial Services Authority("FSA") and will shortly be available for inspection at the FSA's DocumentViewing Facility, which is situated at: The Financial Services Authority25 The North ColonnadeCanary WharfLondonEH14 5HS Copies of the circular can be obtained, free of charge, from the offices ofSeymour Pierce Limited, Bucklersbury House, 3 Queen Victoria Street, London EC4N8EL. This information is provided by RNS The company news service from the London Stock Exchange