Vianet Grp Regulatory News (VNET)

24 Oct 2007 07:00

Brulines (Holdings) PLC24 October 2007 Brulines (Holdings) plc ("Brulines" or the "Company") Notice of EGM Brulines (AIM:BRU), the leading provider of volume and revenue protectionsystems for draught alcoholic drinks in the UK licensed on-trade, announces thatthe Company is today posting a circular to shareholders containing notice of anExtraordinary General Meeting ("EGM") at which a resolution will be proposed togive the Company authority to undertake market purchases of its own shares. At the EGM a resolution will be put before shareholders to authorise the Companyto buy ordinary shares of 10 pence each in the capital of the Company on the AIMMarket of the London Stock Exchange up to a maximum of 2,411,610 ordinary sharesof 10 pence each representing approximately 10% of the Company's issued sharecapital. At 24 October 2007 options to subscribe for shares in respect of1,243,500 ordinary shares of 10 pence each in the Company were outstanding,representing approximately 5.16% of the issued ordinary share capital at thatdate and approximately 5.73% of the issued ordinary share capital assuming theexercise in full by the Company of the authority being sought at the EGM topurchase its own shares and cancellation of such shares on purchase. The Directors intend to use the share purchase authority with discretion andpurchases would only be made from funds not required for other purposes and inthe light of market conditions prevailing at the time. In reaching a decisionto purchase any ordinary shares, the Directors would take account of theCompany's cash resources, the effect of such purchase on the group's business,any impact on earnings per share and the benefits for shareholders generally. Any shares purchased by the Company would either be cancelled immediately orheld as treasury shares. The holding of shares as treasury shares would givethe Company the ability to sell the shares held in treasury quickly and costeffectively and would provide the Company with additional flexibility in themanagement of its capital base. Recommendation The Directors consider the proposed resolution to be in the best interests ofthe Company and its shareholders and would promote the success of the Companyfor the benefits of its shareholders as a whole. Accordingly the Directorsrecommend that shareholders vote in favour of the resolution. Notice of Extraordinary General Meeting Notice is given that an Extraordinary General Meeting of Brulines (Holdings) plc(the "Company") will be held at Grant Thornton UK LLP, St George House, 40 GreatGeorge Street, Leeds LS1 3DQ on 21 November 2007 at 10:00 am to consider and, ifthought fit, to pass the following resolution which will be proposed as aspecial resolution: That the Company be generally and unconditionally authorised for the purposes ofsection 166 of the Companies Act 1985 ("Act") to make market purchases (withinthe meaning of section 163 of the Act) of ordinary shares of 10 pence each inthe capital of the Company ("ordinary shares") provided that: (a) the maximum aggregate number of ordinary shares hereby authorised to bepurchased is 2,411,610 representing 10% of the Company's issued ordinary sharecapital at the date of this notice; (b) the minimum price, exclusive of any expenses, which may be paid for anordinary share is 10 pence; (c) the maximum price, exclusive of any expenses, which may be paid for any suchshare is an amount equal of 105% of the average of the middle market quotationsfor an ordinary share taken from the AIM appendix to the London Stock ExchangeDaily Official List for the five business days immediately preceding the date onwhich such share is contracted to be purchased; (d) the authority hereby conferred shall expire on the earlier of 21 November2008 or the close of the next Annual General Meeting of the Company; and (e) the Company may make a contract for the purchase of ordinary shares underthis authority before the expiry of this authority, which would or might beexecuted wholly or partly after the expiry of such authority, and may makepurchases of ordinary shares in pursuance of such a contract as if suchauthority had not expired. For further enquiries, please contact: Brulines (Holdings) plcJames Dickson, Chief Executive Mark Foster, Finance Director Tel: +44 (0) 1642 358 800mark.foster@brulines.com www.brulines.com Grant Thornton UK LLP (Nominated Adviser)Gerry Beaney / Fiona Kindness Tel: +44 (0) 20 7383 5100 Media enquiries: AbchurchJustin Heath / Emma Johnson Tel: +44 (0) 113 203 1340 This information is provided by RNS The company news service from the London Stock Exchange