SDX Energy Regulatory News (SDX)

17 Nov 2006 07:02

Sondex PLC17 November 2006 Sondex plc ("Sondex" or the "Company") Result of Extraordinary General Meeting At an Extraordinary General Meeting held at 4.00 pm yesterday, and asrecommended by the Sondex Board, none of the resolutions were approved by Sondexshareholders; accordingly the Company will not be proceeding with theacquisition of Innicor Subsurface Technologies Inc. (the "Acquisition") or theassociated Firm Placing and Placing & Open Offer (the "Fundraising"). Sondex announced details of the Acquisition & Fundraising on 30th September 2006but on 7th November 2006 recommended that Sondex shareholders vote against theresolutions to be proposed at the EGM convened for 16th November 2006. Sondex shareholders who submitted valid applications under the Open Offer willbe refunded within 14 days. Iain Paterson, the Chairman of Sondex commented: "Due to changed circumstances and on the recommendation of the Board, the Sondexshareholders at the EGM have voted against the proposed acquisition of Innicor.This has no impact on the Sondex core business which recently announced itsinterim results demonstrating very pleasing on-going organic growth,contributions from previous acquisitions, significant improvements in cashgeneration and enhanced earnings per share. Sondex will continue to concentrateon further delivery of growth from this strong base." Terms defined in the Prospectus dated 19 October 2006 have the same meaning inthis announcement, save where the context otherwise requires. 17 November 2006 For further information please contact: Sondex Tel: 01252 862 200 Martin Perry (Chief Executive)Chris Wilks (Finance Director) Investec Tel: 020 7597 5970 James Grace / Patrick Robb College Hill Tel: 020 7457 2020 Nick Elwes / Paddy Blewer www.sondex.com This information is provided by RNS The company news service from the London Stock Exchange