StatPro Regulatory News (SOG)

19 May 2005 07:01

Statpro Group PLC19 May 2005 For Release at 07.00 Thursday, 19 May 2005 STATPRO GROUP PLC Results of Annual General Meeting and Warrant Proposal StatPro Group plc ("StatPro" or the "Group"), the AIM listed provider ofportfolio analytics solutions for the global asset management industry,announces the results of the resolutions proposed at its Annual General Meeting("AGM") today and the result of the proposal to warrant holders. Reduction of share premium account to allow maiden dividend payment for 2005 All the resolutions proposed at the AGM were passed. Included within specialbusiness was a resolution to reduce the Company's share premium account. Ifconfirmed by the Court, the reduction will eliminate the deficit on the profitand loss account so as to enable the payment of dividends out of futureprofits. Following the passing of this resolution, the Company will now applyto the Court for approval of the reduction. Subject to the confirmation of thereduction of share premium account by the Court, the Company will be in aposition to pay its maiden dividend for 2005. Warrant proposal On 29 April 2005, the Company made a proposal to its warrant holders to exchangetheir existing warrants over 4.25 million shares exercisable at 80 pence pershare up to 17 May 2007 ("Existing Warrants") for new warrants over 1.7 millionshares exercisable at 32 pence per share up to 10 June 2005 ("New Warrants").Applications for such exchanges have been received in respect of approximately99.4 per cent of the Existing Warrants. The Board has resolved to accept suchapplications in full and this will result in the issue of New Warrants over 1.69million shares and the cancellation of Existing Warrants over 4.225 millionshares thereby reducing the potential future dilution and simplifying theCompany's capital structure. - Ends - For further information, please contact: StatPro Group plc Justin Wheatley, Chief Executive 020 8410 9876 Andrew Fabian, Finance Director Corporate SynergyEdward Vandyk/Justin Lewis 020 7626 2244 SmithfieldReg Hoare/ Sarah Richardson 020 7360 4900 Notes to Editors: StatPro Group plc is a leading provider of portfolio analyticssolutions for the global asset management industry. StatPro floated on theLondon Stock Exchange in May 2000 and transferred its listing in June 2003 toAIM. StatPro has grown its revenue from continuing operations from £1.8 millionin 1999 to £9.1 million in 2004. This information is provided by RNS The company news service from the London Stock Exchange