INC.L Regulatory News (INC)

10 Apr 2007 10:18

Avanti Screenmedia Group PLC10 April 2007 10 April 2007 Avanti Screenmedia Group plc ("Avanti Screenmedia") Result of EGM Avanti Screenmedia Group plc (AIM:ASG.L), the UK satellite media andtelecommunications business, announces that at its EGM held today at 10:00 a.m.at 74 Rivington Street, London EC2A 3AY both ordinary resolutions were passedwithout amendment. Accordingly, the shareholders of Avanti Screenmedia have voted in favour of thedemerger of the satellite networks business ("Demerger"). The satellite networksbusiness will be demerged into a new entity, Avanti Communications Group plc.Application has been made to the London Stock Exchange for the AvantiCommunications Shares to be admitted to trading on AIM. It is expected thatdealings will commence on AIM at 8.00 am on 16 April 2007. The shares of theexisting screenmedia business will continue to trade on AIM as AvantiScreenmedia Group plc. Further to the announcement on 16 March 2007, Avanti Screenmedia is also pleasedto announce that it has signed a Nominated Adviser and Broker Agreement withCharles Stanley & Co Limited, trading as Charles Stanley Securities ("CharlesStanley"). Charles Stanley has agreed to act as the new Nominated Adviser andBroker to Avanti Screenmedia, conditional on and with effect from completion ofthe Demerger, which it is expected will complete on 16 April 2007. Hoare Govett,the existing Nominated Adviser and Broker, has agreed to resign conditional uponand with effect from completion of the Demerger. Definitions used in the Circular issued by the Company to its shareholders dated16 March 2007 shall have the same meanings when used in this announcement,unless the context requires otherwise. - ends - Enquiries Avanti Screenmedia Group plc 020 7749 1600Gary Truman (Finance Director) Hoare Govett 020 7678 8000Justin JonesHugo FisherSean Wegerhoff Bishopsgate Communications 020 7562 3350Maxine BarnesJenni Herbert This information is provided by RNS The company news service from the London Stock Exchange