17 Mar 2009 09:34
GSH Group Plc ("GSH" or "Company")
Notice of intention to cancel admission to AIM
GSH has received a notice from its major shareholder, Ian Scarr-Hall (who controls 83.9% of the total voting rights in GSH), requiring that the GSH board convenes a general meeting of the Company to consider a resolution (which will require a 75 per cent. majority of those shareholders voting in person or by proxy) to cancel the Company's admission to AIM. Mr Scarr-Hall has further informed the Company of his intention to vote in favour of such resolution. Mr Scarr-Hall has also notified the Company of his intention to vote against any resolution proposed by the Directors of GSH for the purposes of the Company tendering to buy GSH shares from other shareholders prior to the cancellation becoming effective.
The Company currently intends to post the required circular to shareholders on 19 March 2009, convening a general meeting of the Company at 11.00 a.m. on 14 April 2009. The general meeting will take place at the Company's registered office at GSH House, Forge Lane, Stoke-on-Trent, ST1 5PZ.
Subject to the passing of the resolution, trading in the ordinary shares of 1p each in the capital of the Company will cease with effect from 7.00 a.m. on 22 April 2009.
Following the cancellation of trading in the Company's shares on AIM, the shares will not be listed on any public market and the shares will cease to be registered with CREST, though the Company will explore the possibility of establishing an appropriate mechanism to allow shareholders to buy and sell shares off market. Further details of any scheme will be circulated in due course.
For further information, please contact:
GSH Group plc
Rob Painting
Tel: 01782 200457
Bell Pottinger Corporate & Financial
Ann-Marie Wilkinson / Nick Lambert
Tel: 020 7861 3232
KBC Peel Hunt
Julian Blunt, Nominated Adviser
Tel: 020 7418 8900
GSH.L (GSH)