Hermes Pac. Regulatory News (HPAC)

25 Feb 2008 15:34

India Outsourcing Services PLC25 February 2008 For immediate release 25 February 2008 INDIA OUTSOURCING SERVICES PLC (to be renamed INDIAN RESTAURANTS GROUP plc) Result of General Meeting India Outsourcing Services plc (AIM: IOS) is pleased to announce that, at theGeneral Meeting held earlier today, all of the resolutions contained in thecircular dated 28 January were passed including resolutions approving theacquisition of the Mela Group and changing the name of the Company to IndianRestaurants Group plc. Admission to trading on AIM of the Initial Consideration Shares is expected tooccur tomorrow, 26 February 2008. Haresh Kanabar, Non-Executive Chairman and Finance Director of the EnlargedGroup, made the following comments: "We are delighted by the support ofshareholders for our strategy of rolling out a nationwide chain of Indianrestaurants based on the acquisition of the Mela Group. It is our intention touse the Mela Group's complementary Mela and Chowki brands to open new outletsand to acquire and rebrand existing sites. "The UK Indian restaurant sector has a market size of £3 billion but to datethere has been no national, branded operator. We see a clear opportunity overthe medium term to replicate, with high quality but affordably priced Indiancuisine, the successes seen among pizza, pasta and tapas chains. "Following today's General Meeting, I would like to take the opportunity towelcome the award-winning chef Kuldeep Singh to the Company's Board as ExecutiveChef Director and the restaurant entrepreneur Ashraf Rahman to the Company'sBoard as Business Development Director." For further information please contact: India Outsourcing Services Plc 020 7297 0012Amit Pau, Chief Executivewww.indiaoutsourcingservices.com W. H. Ireland Limited 0121 265 6330Tim Cofman-Nicoresti / Katy Birkin Buchanan Communications 020 7466 5000Mark Court This information is provided by RNS The company news service from the London Stock Exchange