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19 May 2010 15:57
Specialist Energy Group plc
("Specialist Energy Group" or "the Company")
19 May 2010
Issue of Equity
Issue of shares pursuant to the application of compulsory acquisition provisions
As announced by the Company on 16 March 2010, sufficient acceptances were received by Specialist Energy Group in relation to the offer for Southbank UK plc to allow the Company to apply the provisions of sections 979 to 982 (inclusive) of the Companies Act 2006 in order to acquire compulsorily any remaining Southbank UK plc shares from the remaining Southbank UK plc shareholders ("Squeeze Out").
Further to the application of Squeeze Out, Specialist Energy Group plc has issued and allotted 572,860 ordinary shares of 1p each in the Company to certain Southbank UK plc shareholders on the same terms as the original offer made by the Company (formerly Nviro Cleantech plc) for Southbank UK plc. Application has been made for these new ordinary shares to be admitted to trading on AIM, which is expected to occur on 25 May 2010. The new ordinary shares will rank pari passu with existing ordinary shares in the Company.
As a consequence of the issue of ordinary shares in the Company as detailed above, the Company's issued share capital now comprises 25,026,160 ordinary shares of 1p each. There are no ordinary shares held in treasury. Therefore the total number of voting rights in Specialist Energy Group is now 25,026,160.
The above figure of 25,026,160 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company.
Contact information:
Specialist Energy Group Plc
Ewan Lloyd-Baker, Chief Executive Officer
Tel: +44 (0) 20 7747 8380
Fairfax I.S. PLC - Nomad and Broker
Ewan Leggat / Laura Littley
Tel: +44 (0) 20 7598 5368
GTH Communications - PR Adviser
Toby Hall / Christian Pickel
Tel: +44 (0) 20 3103 3902
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