ODX.L Regulatory News (ODX)

8 May 2006 12:34

Quintessentially English PLC08 May 2006 Quintessentially English plc (the 'Company' or 'Quintessentially') Result of AGM and AGM statement The Board of Quintessentially English plc (the "Company") announces that at theAnnual General Meeting of the Company held earlier today, Resolutions 1 to 5 were duly approved by Shareholders. Resolutions 6 and 7 authorising the Directors to allot securities up to amaximum nominal amount of £388,250 and disapply pre-emption rights on theallotment of up to £388,250 of relevant securities were withdrawn in view of thefact that the Company's shares are now suspended from trading on AIM and thatany further issue of shares is likely to constitute a reverse takeover andtherefore would require prior shareholder approval. The Board also notedtechnical discrepancies in relation to the drafting of these resolutions. At the conclusion of the meeting the Board made the following statement: "Since the suspension of trading of the Company's shares on AIM on 1 April 2006,the Board has continued to seek a suitable reverse acquisition for the Company.A number of interesting opportunities are currently being explored. The Boardwill keep shareholders abreast of progress. Following the posting of the annual report and accounts to shareholders inApril, the Board wishes to clarify the accounts in relation to the steps theboard intends to take in the event that no acquisition constituting a reversetakeover is made by 1 October 2006 and, as specified by the London StockExchange, trading in the Company's shares on AIM is cancelled. If thiseventuality arises, it is the Board's intention to seek a quotation for theCompany's shares on an alternative exchange, subject to Shareholder approval. Furthermore, in order to maximise the attractiveness of the Company as anacquisition vehicle, each of the Directors has agreed to vary the terms of theirservice contracts fixing their remuneration, such that their remuneration willnow be agreed at the time of a reverse acquisition." This information is provided by RNS The company news service from the London Stock Exchange