22 Jul 2010 10:24
22 July 2010
NORTHBRIDGE INDUSTRIAL SERVICES PLC
("NORTHBRIDGE", THE "COMPANY" OR THE "GROUP")
RESULT OF EXTRAORDINARY GENERAL MEETING
Northbridge Industrial Services plc, the industrial services and rental company, announced on 30 June 2010 that it was proposing to raise approximately £7.0 million (before expenses) by the issue of 5,606,000 New Ordinary Shares at a price of 125p per New Ordinary Share and to acquire Tasman Oil Tools Pty Ltd. The Placing and Acquisition were conditional upon shareholder approval.
The Board of Northbridge is pleased to announce that, at the EGM held earlier today, all resolutions proposed to shareholders were duly passed.
Application has been made for admission to trading on AIM of 5,606,000 new Ordinary Shares in connection with the Placing. It is expected that Admission will become effective, and dealings in the Placing Shares will commence, at 8.00 a.m. on Friday 23 July 2010. New Ordinary Shares in uncertificated form are expected to be credited to CREST accounts by 8.00 a.m. on 23 July 2010, and definitive share certificates for the New Ordinary Shares in certificated form are expected to be despatched by post by 6 August 2010.
Acquisition of Tasman
The Acquisition is expected to complete on 30 July 2010. Application has been made for admission to trading on AIM of the Consideration Shares to be issued to the Vendor pursuant to the Acquisition. It is expected that Admission will become effective, and dealings in the Consideration Shares will commence, at 8.00 a.m. on 30 July 2010. A further announcement will be made in due course.
Total Voting Rights
Following admission of the Placing Shares to trading on AIM, the Company's total issued share capital will consist of 14,698,257 Ordinary Shares, including 152,150 Ordinary Shares held in treasury. Therefore the number of Ordinary Shares which should be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Services Authority's Disclosure and Transparency Rules, is 14,546,107.
For further information:
| Northbridge Industrial Services plc Eric Hook, Chief Executive Officer Ash Mehta, Finance Director
| 01283 531645 |
| Smith & Williamson Corporate Finance Limited (Nominated Adviser) Azhic Basirov / David Jones
| 020 7131 4000 |
| Arbuthnot Securities Limited (Broker) Alasdair Younie / Ed Groome
| 020 7012 2000 |
| Buchanan Communications Charles Ryland / James Strong
| 020 7466 5000 |
Unless the context requires otherwise, capitalised terms used in this announcement have the same meanings as given to them in the circular posted to shareholders dated 30 June 2010, which is available on the Company's website: www.northbridgegroup.co.uk.