Last checked at 1 Jul 2008 07:00
PUBLISHING TECHNOLOGY PLC
NOTICE OF ANNUAL GENERAL MEETING
Notice is herby given that the Annual General Meeting of Publishing Technology Plc will be held on Thursday 24th July 2008 at 10:00 a.m. at 44 Southampton Buildings, London WC2A 1AP.
The AGM has been called for the following purposes:
As Ordinary Business:
To receive and adopt the statement of accounts for the 18 months ended 31 December 2007 together with the reports of the directors and the auditors thereon.
To re-elect W E Shaw, who retires by rotation, as a director.
To re-appoint Messrs Grant Thornton UK LLP as auditors to act as such until the conclusion of the next General Meeting of the Company at which the requirements of sections 437 and 438 of the Companies Act 2006 are complied with and to authorise the directors of the Company to fix their remuneration.
As special resolutions:
To reduce the Company's share capital be cancelling the two classes of deferred shares and to cancel its share premium account. The purpose of which is to eliminate the deficit on the Company's profit and loss account. This will allow the company to pay dividends out of future profits.
To consolidate the Company's existing issued ordinary shares of 0.1p each into new ordinary shares of 10p each
To amend the Company's articles of association to incorporate or take account of certain new provisions of the Companies Act 2006.
Last week the Board released a positive trading update, announcing a major new contract for the PCG division with US-based BioOne, a leading aggregator of bio-science journals, and making clear that it has seen no discernable slow down in market activity, and believes this is because Publishing Technology provides the means for publishers and information providers to increase their revenues, whilst rationalising their costs. The Board intends to continue to pursue organic growth and increased profits and, where appropriate, earning enhancing acquisition opportunities.
George Lossius, Publishing Technology CEO, commented:
"We have made significant progress over the past year on delivering on our revenue increase and cost reduction targets, and indeed have exceeded them in some areas such as cross selling and overhead reduction. We have seen no slowdown in our core markets and believe the current environment could yield further strong opportunities for the company as publishers look to increase revenues and rationalise costs."
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