ENGI.L Regulatory News (ENGI)

23 Mar 2005 11:57

Billam PLC23 March 2005 Billam Plc AGM and EGM statements Annual General Meeting At the meeting Victor Beamish chairman, reported that there had been no changein the Company's trading since his statement in the Accounts issued on 14February 2005. Billam Plc's investee companies continue to show encouragingsigns of growth and this should continue to benefit our Company. At today's Annual General Meeting all the motions were duly passed. Extraordinary General Meeting At today's Extraordinary General Meeting of Billam Plc the resolution was dulypassed. At the meeting Victor Beamish explained the reasons for the proposals:specifically that whilst every shareholder is valued by Billam a significantnumber of smaller shareholders found it uneconomic to realise their investment.Also, the material cost to the Company of maintaining a large share register. He further explained that the special trading arrangements offered toshareholders who own 500 or fewer shares since 1 March 2005 had been taken up by394 shareholders. This facility continues to 30 March 2005. Mr Beamish said, "Following the passing of the resolution that the currentordinary shares of 10 pence will continue until close of business on Friday 8April, the Record Date, the Ordinary Shares will then be consolidated on thebasis of 1 for 500 into Intermediate Ordinary Shares. Fractions of IntermediateOrdinary Shares (any holding or part holding of Ordinary Shares not exactlydivisible by 500) will be aggregated, where possible, and sold in the market forthe benefit of Shareholders and distributed to them, except that any proceedsafter deduction of expenses of sale less than £2.00 would be sold for thebenefit of the Company. "Before the start of business on Monday 11 April each Intermediate OrdinaryShare will be sub-divided into 250 New Ordinary Shares. Trading in the NewOrdinary Shares of 20 pence is expected to commence at start of business onMonday 11 April 2005. After the Record Date and pending the receipt of newcertificates, transfers of New Ordinary Shares held in certificated form will becertified against the register of members of the Company. "New certificates will be sent to holders of the New Ordinary Shares of 20pence." Enquiries: Bishopsgate Communications 020 7430 1600Maxine Barnes / Dominic Barretto This information is provided by RNS The company news service from the London Stock Exchange