28 Feb 2011 14:50
28 February 2011
Insetco plc
("Insetco" or the "Company")
Result of General Meeting
Acquisition of Saolpoll (Jersey) Limited and related business assets
Appointment of Director
The Board is pleased to announce that all Resolutions in relation to the acquisition of Saolpoll (Jersey) Limited and the related business assets (the "Acquisition") were duly passed at the Company's General Meeting held earlier today.
Following the passing of the Resolutions, restoration of trading in the Company's Ordinary Shares will take place at 8.00am on Tuesday 1 March 2011. The Enlarged Share Capital at re-admission will be 164,483,096 Ordinary Shares of 0.001p each.
No capital is being raised on re-admission. The Company's market capitalisation at the point it last traded on AIM was £16.7m. The Enlarged Share Capital at re-admission includes a further 49,180,446 new Ordinary shares issued to the Vendors.
In addition to the completion of the Acquisition, the passing of the Resolutions mean that Sanjeev Joshi has been appointed to the Board as an executive director.
Defined terms in this announcement should be taken to have the same meaning as set out in the circular which was posted to shareholders on 11 February 2011.
For further information, please contact:
Insetco plc 020 7887 7841
Clive Cooke, Chief Executive Officer
Sanjeev Joshi, Executive Director
Charles Stanley Securities 020 7149 6000
(Nominated Adviser)
Russell Cook/Darren Vickers