QRT.L Regulatory News (QRT)

3 Jun 2005 13:15

Quarto Group Inc03 June 2005 THE QUARTO GROUP, Inc Final conversion of Convertible Preference Shares Quarto, the London-based and listed international book publisher, announces that2,947,252 of its convertible cumulative redeemable shares of preferred stock ofUS$ 0.10 par value each ("Convertible Preference Shares") have been convertedinto 1,768,344 of its shares of common stock of US$ 0.10 par value each("Ordinary Shares"), taking the Ordinary Shares in issue to 20,444,550 from18,676,206. Certificates for the Ordinary Shares arising on conversion together with, ifappropriate, a certificate for any unconverted Convertible Preference Shares anda cheque in respect of any fractional entitlement will be despatched not laterthan June 14th, 2005. It is expected that dealings should commence not laterthan June 20th, 2005. Pending the issue of share certificates, transfers will becertified against the register. Application will be made to the Council of The Stock Exchange for the OrdinaryShares issued on the exercise of the conversion rights to be admitted to theOfficial List. Ordinary Shares to be issued will rank for all dividends andother distributions made or paid in respect of the current financial year andwill rank pari passu in all other respects with the Ordinary Shares in issue onthe conversion date. Following the conversion, Directors' and Quarto's Treasury shareholdings havechanged as follows: Ordinary Shares Convertible Preference Shares Post-conversion Pre-conversion Post-conversion Pre-conversion L F 2,864,985 2,858,985 - 10,000Orbach (14.01%) (15.31%)M J 51,700 (0.25%) 42,700 (0.23%) - 15,000MousleyQuarto 887,000 (4.34%) 689,000 (3.69%) - 330,000 The outstanding 2,255,272 Convertible Preference Shares will be redeemed at aprice of £1.00 each on December 31st, 2005. Enquiries: The Quarto Group, Inc. 020-7700 9000Mick Mousley (Finance Director) Bankside Consultants LimitedCharles Ponsonby 020-7444 4166 This information is provided by RNS The company news service from the London Stock Exchange