Annual Report and Accounts and AGM Notice

18 Jun 2009 14:33

Cellcast plc

Annual Report and Accounts

Notice of Annual General Meeting

Proposed sub-division of ordinary shares

The report and accounts of Cellcast plc (the "Company") for the year ended 31 December 2008 have been posted to shareholders.

The Annual General Meeting ("AGM") of the Company will be held at the offices of Memery Crystal LLP, 44 Southampton Buildings, London WC2A 1AP on 30 July 2009 at 10.00am. The resolutions proposed for the AGM are set out in a circular which has also been sent to shareholders (the "AGM Circular"). 

The resolutions include a resolution to sub-divide (i) each existing issued ordinary share of 3p into one new ordinary share of 1p and one deferred share of 2p and (ii) each authorised but unissued ordinary share of 3p into 3 new ordinary shares of 1p each. If implemented, the sub-division will allow the Company greater flexibility in issuing shares, as under company law a company may not issue shares for less than their nominal value. The total number of issued ordinary shares will not change as a result of the sub-division and existing share certificates will remain valid. The AGM Circular contains a letter from the Chairman of the Company outlining the reasons for the proposed sub-division, explaining why the board of the Company considers that it is in the best interests of the Company and shareholders as a whole and recommending that shareholders vote in favour of the resolution to effect the sub-division. Application will be made for the new ordinary shares of 1p each resulting from the sub-division to be admitted to trading on AIM and it is expected that dealings on AIM will commence at 8.00am on Friday 31 July.

The report and accounts and the AGM Circular have been posted on the Company's website (www.cellcast.tv) in accordance with AIM Rule 26 and copies will be available during normal business hours at the Company's registered office, The Registry, 34 Beckenham Road, Beckenham, Kent BR3 4TU.

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