Uk Oil & Gas Regulatory News (UKOG)

24 Apr 2008 11:03

Sarantel Group PLC24 April 2008 24 April 2007 Sarantel Group plc ("Sarantel" or the "Company") Results of Meetings Sarantel announces that at the annual general meeting and the general meeting ofthe Company held earlier today, all resolutions were duly passed, including theresolution to effect a capital reorganisation on the following basis: (a) each of the issued A ordinary shares of 10p ("A Ordinary Share") will besubdivided and redesignated into one new A ordinary share of 1p ("New A OrdinaryShare") and one deferred share of 9p each ("Deferred Share"); (b) each of the issued B ordinary shares of 10p ("B Ordinary Share") will besubdivided and redesignated into one new B ordinary share of 1p ("New B OrdinaryShares") and one Deferred Share; (c) each of the authorised and unissued A Ordinary Shares will be subdividedinto 10 New A Ordinary Shares; and (d) each of the authorised and unissued B Ordinary Shares be subdivided into 10New B Ordinary Shares. The necessary resolutions granting authorities to the Company to allot anddisapply pre-emption rights were passed, including those permitting theauthority to allot 114,500,800 New Ordinary A Shares, including 13,333,400 NewOrdinary A Shares allotted in accordance with the placing announced on 7 April2008, and the placing as announced on 31 March 2008, to raise in aggregate £3.4million. Trading in the New A and B Ordinary Shares will take place in two tranches. Thefirst tranche of 101,332,891 New A Ordinary Shares and 1,036,340 New B OrdinaryShares are expected to be admitted to trading on 25 April 2008. Following thefirst admission of the New A Ordinary Shares and New B Ordinary Shares, Sarantelwill have 102,369,231 ordinary voting shares in issue. The second tranche of 88,567,100 New A Ordinary Shares is expected to beadmitted to trading on 28 April 2008. Following the admission of the secondtranche of New A Ordinary Shares, Sarantel will have 190,936,331 ordinary votingshares in issue. Enquiries: SarantelDavid Wither, Chief Executive Officer 01933 670 560Sitkow Yeung, Finance Director John East & Partners Limited 020 7628 2200John East/Simon Clements College Hill 020 7457 2020Adrian Duffield/ Ben Way Notes to Editors: Sarantel (www.sarantel.com) Sarantel is a leader in the design of high-performance miniature antennas forportable wireless applications including hand-held navigation, satellite radioand laptop computers. Sarantel's revolutionary ceramic filtering antennas offer dramatically improvedperformance over existing antenna designs, resulting in a clearer signal, betterrange and a 90 per cent reduction in the amount of signal radiation absorbed bythe body. Because of their smaller size and higher capabilities, Sarantel'santennas enable manufacturers to create innovative high-volume consumer productsincorporating technologies such as GPS, Wi-Fi, WiMax, 3G, GPRS, Satellite Radioand Bluetooth. This information is provided by RNS The company news service from the London Stock Exchange