Result of EGM

23 Oct 2006 14:30

Chamberlin & Hill PLC23 October 2006 CHAMBERLIN & HILL PLC 23 October 2006 Chamberlin & Hill plc (the "Company") Result of Extraordinary General Meeting At the Extraordinary General Meeting of the Company, which took place earliertoday, the resolution proposed to shareholders to approve the Company's proposedde-listing from the Official List of the UK Listing Authority and thecancellation of the Company's ordinary shares to trading on the London StockExchange's market for listed securities, as announced on 20 September 2006, wasduly passed. Accordingly, notice is hereby given that the final day of dealings on theOfficial List of the UK Listing Authority is expected to be 22 November 2006 andthe first day of trading on AIM is expected to be 23 November 2006. At today's Extraordinary General Meeting, Tom Brown, Chairman of Chamberlin &Hill plc, provided the following trading update: At the Company's annual general meeting in July this year, the Company warnedshareholders that cost increases suffered in recent months would mean a lowerfirst half year result than in the previous year. Since then increased costs of energy and raw materials have continued to putpressure on foundry margins and demand for heavy castings has not recovered asexpected. The operating performance of both foundry businesses has also beenadversely affected by the previously announced restructuring programmes, whilecentral costs have been temporarily inflated by recruitment to strengthen bothoperational and group management. These factors have combined to reduce thefirst half year results further. Although adjustments to selling prices and other actions are expected to deliverimprovements in the second half of the year, the directors now anticipate thatthe full year results will fall short of the level achieved in the last twoyears. The directors believe that the trend of the second half will continue into thenext financial year, when an improved performance is anticipated. Contacts: Chamberlin & Hill plcTom Brown, Chairman 01922 721 411Tim Hair, CEOTeather & Greenwood LimitedAdam Pollock (Sales) 020 7426 9000Mark Dickenson (Corporate Finance) This information is provided by RNS The company news service from the London Stock Exchange