Last checked at 26 Jun 2009 15:34
KleenAir Systems International Plc (the "Company")
Result of General Meeting and CVA Update
26 June 2009
The Company announces that the resolutions proposed at the General Meeting held on 24 June 2009 were duly passed.
Resolution 1, proposed as an ordinary resolution, related to the approval of the Company Voluntary Arrangement (the "CVA") as detailed in the circular to shareholders dated 29 May 2009.
Resolution 2, proposed as a special resolution, related to the creation, conditional on the passing of Resolution 1, of the B Ordinary Shares and amendment of the Company's Articles of Association accordingly.
The votes were cast in respect of each resolution as follows:
| For | Against | Discretion to Chairman | |
| Resolution 1 | 9,076,845 | 179,000 | 19,000 |
| Resolution 2 | 8,998,845 | 187,000 | 89,000 |
Following the approval of the CVA at the meeting of creditors on 19 June 2009 and its approval also by shareholders as stated above, the Company expects to complete the CVA and issue new ordinary shares to creditors in early August 2009.
The Directors expect the Company's ordinary shares to resume trading on AIM upon publication of the accounts for the year ended 30 September 2008 (to include a pro-forma balance sheet reflecting the implications for the Company of the CVA) and notification of its interim results for the six month period ended 31 March 2009. These accounts are expected to be completed shortly.
Enquiries:
KleenAir Systems International Plc
Lionel Simons, Chairman and Chief Executive
07799 690 785
W.H. Ireland
Tim Cofman-Nicoresti/Katy Birkin
0121 265 6330