Last checked at 10 Jul 2008 12:13
Publishing Technology plc ("Publishing Technology" or the "Company")
Proposed Capital Reorganisation
As announced on 1 July 2008, the Board of Publishing Technology is proposing a capital reorganisation of its Ordinary Share Capital (the "Reorganisation") at its forthcoming General Meeting to be held on 24 July 2008.
The Reorganisation, if passed, will result in the consolidation of every 100 existing ordinary shares of 0.1p each into one New Ordinary Share of 10p. The number of new ordinary shares in issue following the Reorganisation will be 8,413,610 being 841,361,040 divided by 100
After the implementation of the Reorganisation the nominal value of each New Ordinary Share will be one hundred times that of each Existing Ordinary Share but otherwise, each New Ordinary Share will have the same rights (including voting and dividend rights and rights on a return of capital) as each Existing Ordinary Share has at present.
Assuming the resolution is passed, the Reorganisation of the Company's issued share capital, as set out in the Notice of General Meeting, will take place at the close of business on 24 July 2008. Accordingly, 24 July 2008 is the record date for the proposed Reorganisation.
Application will be made for the new ordinary shares to be admitted to trading on AIM. It is expected that Admission will become effective at 8am on Friday 25 July 2008 whereupon the Reorganisation will become effective.
The new ISIN of the New Ordinary Shares of 10p each will be: ISIN - GB00B3BDTG73.
For further information please contact:
Publishing Technology PLC
George Lossius/Alan Moug 01865 397800
FinnCap, nominated adviser
Geoff Nash/Rose Herbert 020 7600 1658
The Communication Group plc
Richard Evans 020 7630 1411 / 0775 108 7291
Kit Bingham 020 7630 1411 / 0788 074 8672