Frp Advisory Group Regulatory News (FRP)

18 Jul 2007 13:38

Debt Free Direct Group PLC18 July 2007 18 July 2007 DEBT FREE DIRECT GROUP PLC ("Debt Free Direct" or "the Company") Result of EGM On 26 June 2007 Debt Free Direct announced a proposal to cancel its sharepremium account in order to create sufficient distributable reserves to enablethe Company to buy back up to 4,500,000 ordinary shares. At the extraordinary general meeting of the Company which took place earliertoday, the resolutions proposed to effect the cancellation of share premiumaccount and to authorise the share buyback were duly passed. Debt Free Direct now intends to petition the court for approval of thecancellation of its share premium account. It is anticipated that the hearingof the Company's petition will take place on Wednesday 22 August 2007. Enquiries: Debt Free Direct Group plc Andrew Redmond, Chief Executive Officer 0845 296 0100Paul Latham, Finance Director 0845 296 0200 Numis Securities Iain McDonald 020 7776 1500Lee Aston Financial Dynamics Ed Gascoigne-Pees 020 7269 7132Nick Henderson 020 7269 7114 Notes Debt Free Direct helps individuals find the best solution to their debtproblems, based upon an analysis of their particular financial circumstances.Financial information on an individual is processed through a computer model(the Best Advice Model) developed by Debt Free Direct in order to recommend asolution suitable for that individual's particular financial circumstances. Thesolutions offered range from basic advice, such as simply destroying creditcards and curbing unnecessary expenditure, to the following solutions: • consolidation loan • re-mortgage • informal arrangement • individual voluntary arrangement (IVA) • bankruptcy Debt Free Direct is unique in the marketplace in that, unlike most of itscompetitors who sell specific products, Debt Free Direct looks to provide thebest advice to the consumer and recommends them the most appropriate service. Debt Free Direct is based in Chorley, Lancashire, and was admitted to AIM inDecember 2002. This information is provided by RNS The company news service from the London Stock Exchange