Issue of Equity

14 Dec 2006 11:16

Albany Capital PLC14 December 2006 14 December 2006 AIM: ALB ALBANY CAPITAL PLC ("Albany Capital" or "the Company") Result of Extraordinary General Meeting Placing of £3,746,666 Proposed reduction of share premium account Result of Extraordinary General Meeting The Board of Albany Capital Plc is pleased to announce that, at the Company'sExtraordinary General Meeting held earlier today, the resolutions proposed toshareholders ("the Resolutions") were duly passed as special resolutions. Placing to raise £3,746,666 Application has been made for 187,333,333 new ordinary shares of 1 p each in theCompany, to be issued pursuant to a placing at 2 pence per ordinary share so asto raise approximately £3,746,666 gross (£3,680,000 after expenses) for theCompany ("the Placing Shares"), to be admitted to trading on AIM. Following thepassing of the Resolutions it is expected that dealings in the Placing Shareswill commence on 15 December 2006. The Placing Shares will rank pari passu inall respects with the existing shares in issue. The issued share capital of the Company following completion of the placing willbe 779,008,967 ordinary shares of 1 p each. Proposed reduction of share premium account Following the passing of the Resolutions, the Board proposes to seek theconfirmation of the Court of a reduction of the Company's share premium accountby £829,054 in order to eliminate the deficit on the Company's profit and lossaccount as at 30 September 2006 ("the Reduction"). The Reduction will only takeeffect if confirmed by the Court and upon the appropriate documents being lodgedwith the Registrar of Companies. It is anticipated that the Court Orderconfirming the Reduction will be made by mid February 2007 and that theReduction itself will become effective by the end of February 2007. For further information please contact: Albany Capital PLC Chris Roberts 020 7937 4445 W.H. Ireland Limited Peter Jackson 020 7220 1666 This information is provided by RNS The company news service from the London Stock Exchange