Result of EGM

6 Feb 2006 11:18

Teesland Advantage Property Inc Tst06 February 2006 Teesland Advantage Property Income Trust Limited Result of EGM Further to the announcement by the Board of Teesland Advantage Property IncomeTrust Limited ("the Company") on 19 January 2006 and the publication on thatdate of a prospectus ("Prospectus") relating to the proposed placing of 71million C shares of no par value in the capital of the Company ("C Shares"), theBoard announces that both the resolutions put to the Extraordinary GeneralMeeting of the Company held earlier today the 6 February 2006 were duly passedwithout amendment. Dealings in C Shares are expected to commence at 8.00 am on Tuesday 7 February2006 and completion of the acquisition by the Company of TOPP Holdings Limitedis expected to become effective shortly thereafter. Following completion of the acquisition of TOPP Holdings Limited and therepayment by the Company of certain borrowings as detailed in the Prospectus,the Company will be capable of effecting the conversion of the C Shares into newordinary shares of 1 pence each in the capital of the Company ("OrdinaryShares"), on a ratio to be determined on the basis described in the Prospectus.The conversion ratio, its date of calculation and the timetable for conversionand admission to trading of the new Ordinary Shares will be announced in duecourse. Enquiries: Darren Fennell / Brett Robinson, Teesland plc: 020 7659 6666Jeremy Carey, Tavistock Communications Limited: 020 7920 3150David Davies / Nick Maslen, KBC Peel Hunt Ltd: 020 7418 8900 Anson Fund Managers LimitedCompany SecretaryTel: Guernsey 01481 722260 6 February 2006 End This information is provided by RNS The company news service from the London Stock Exchange