WSE.L Regulatory News (WSE)

27 Jun 2005 15:25

Western Selection P.L.C. ("Western" or "Company") Results of EGM Further to the announcement dated 10th June 2005 and the circular of the samedate, an EGM of the Company was held at 3.00 p.m. today. The result of the EGMis that all three resolutions were passed with the voting being as follows:Resolution 1 - to approve the share consolidation, payment of compensation andsub-division.For 99.87 per cent.Against 0.13 per cent.Abstain NilResolution 2 - to approve a waiver for London Finance & Investment Group P.L.C.and Mr. J.M. Robotham (together "the Concert Party") to make a general offerthat would otherwise arise if Western shares are issued to the Concert Party ifit exercises all or some of its Warrants.For 99.61 per cent.Against 0.33 per cent.Abstain 0.06 per cent.Resolution 3 - to approve a waiver for the Concert Party to make a generaloffer that would otherwise arise if Western, exercising its authority topurchase shares in the market, caused an increase in the Concert Party'spercentage interest in Western's shares.For 99.61 per cent.Against 0.33 per cent.Abstain 0.06 per centAs a result of the approval of the two waivers:- if the Concert Party was the only Warrant holder to exercise its Warrants,its interest in the Company would increase from 40.71 per cent. to 44.81 percent.; and- if the Concert Party was the only Warrant holder to exercise its Warrants andthe Company exercised its power to purchase 4,350,000 shares in the market (themaximum number currently permitted) then the Concert Party's interest in theCompany would increase to 49.41% (assuming that no shares were purchased fromthe Concert Party).By Order of the BoardCity Group P.L.C.SecretariesCopies of this notification are held at the Company's office, 25 City Road,London, EC1Y 1BQ (tel. 020 7448 8950) and are available for a period of 14 daysfrom the date of this announcement.ENDWESTERN SELECTION PLC