Result of General Meeting & Holding in Company

2 Mar 2009 13:00



Westside Acquisitions plc / Ticker: WST.L / Index: AIM / Sector: Investment

Westside Acquisitions plc ('Westside' or 'the Company')

Result of General Meeting and Holding in Company

Westside Acquisitions plc, the AIM listed investment vehicle, announces that the resolution set out in the circular to shareholders on 11 February 2009 was duly passed at the General Meeting of the Company held earlier today.

Following the passing of the resolution the Company, through its wholly owned subsidiary Reverse Take-Over Investments Plc, no longer has an interest in the ordinary shares or warrants of ADDleisure Plc. 

As announced on 11 February 2009, the Company has also raised the sum of £500,000 before expenses through the issue of £500,000 7.5% unsecured loan notes ('the Loan Notes'), which will mature on the fifth anniversary of its date of issue. The Company has granted to the subscribers of the Loan Notes 50,000,000 warrants to subscribe for 50,000,000 new ordinary shares in the Company at 1 pence per share ('the Warrants') which expire on the fifth anniversary of the date of the grant of the Warrants. Certain Directors and Bill Weston (who is a substantial shareholder of the Company) have subscribed for Loan Notes. 

* * ENDS * *

For further information contact: