30 Mar 2009 11:53
30 March 2009
Canisp Plc ('Canisp' or the 'Company')
Result of General Meeting
The Company is pleased to announce that, at the General Meeting held earlier today, the resolutions set out in its circular to shareholders dated 11 March 2009 were duly passed.
The resolutions included the approval of the proposed disposal of the entire business and certain assets of the Airtime Group Limited ('TAG') to Opal Telecom Limited ('Opal') (the 'Disposal') and the approval of the Company's Investing Strategy.
Having now satisfied all of the conditions, the Disposal will complete on 31 March 2009. Upon completion, the Company will be treated as an investing company for the purposes of the AIM Rules for Companies (AIM Rules). Pursuant to the AIM Rules, Canisp will be required to make an acquisition or acquisitions which constitute a reverse takeover in accordance with Rule 14 of the AIM Rules or otherwise implement the Investing Strategy approved at the General Meeting to the satisfaction of the London Stock Exchange within 12 months, being 30 March 2010, of having received the consent of its shareholders, failing which, Canisp's trading facility on the AIM market will be suspended for a further period of six months followed by cancellation of the Company's AIM listing.
Enquiries:
Nominated advisor and broker:
Canaccord Adams Limited tel: +44 (0) 207 050 6500
Andrew Chubb, Adria Da Breo Richards
John Bick
Hansard Group tel: +44(0)7872 016007