29 Aug 2008 15:20
Marchpole Holdings plc
("Marchpole" or "the Group")
Result of General Meeting and Interim Management Statement
Marchpole (LSE: MPH) announces that all of the resolutions which were put to today's General Meeting ("GM") were duly passed. Details of the resolutions, which included resolutions relating to the placing of 1,360,000 new Ordinary Shares at 11.5p per share and issue of £2,343,600 convertible loan notes (the "Loan Notes") to Atlas Design AB, were set out in a circular to Marchpole shareholders dated 6 August 2008.
A proportion of the Loan Notes have, on passing of the resolutions at the GM, converted into 1,374,000 new Ordinary Shares ("Part Conversion Shares") at a price of 11.5p per share. An application has been made to the UK Listing Authority and the London Stock Exchange plc for the Part Conversion Shares to be admitted to the Official List and to trading on the London Stock Exchange (respectively). It is expected that admission will take place and that trading will commence in the Part Conversion Shares on 5 September 2008.
The total number of shares in issue and therefore the total number of voting rights following the issue of new shares will be 30,076,912. This figure may be used by Marchpole shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest, or change to the interest in, Marchpole, under the FSA's Disclosure and Transparency Rules.
Copies of the resolutions passed at the GM have been submitted to the UK Listing Authority and will be available shortly for inspection at the UK Listing Authority's Document Viewing Facility which is situated at:
Financial Services Authority
25 The North ColonnadeCanary WharfLondon
E14 5HS
Tel: 020 7676 1000
Marchpole also announces its Interim Management Statement in compliance with the EU's Transparency Directive. The statement relates to the period from 6 April 2008 to date. There has been no material change in the financial position of the Group during the period (save as announced to the market) and trading has been consistent with the Board's expectations in the prevailing difficult market conditions. The Directors believe that these conditions will remain difficult for the remainder of six month period to 30 September 2008.
Press enquiries:
Marchpole Holdings plc 020 7908 7777
Michael Morris, Executive Deputy Chairman
Bell Pottinger Corporate & Financial 020 7861 3232
David Rydell / Emma Kent / Amy Rajendran