PLNT Plantic Tech.

 

TIDMPLNT 
 
RNS Number : 4022W 
Plantic Technologies Limited 
18 November 2010 
 

 
 
18 November 2010 
 
          PLANTIC TECHNOLOGIES LIMITED 
 ("Plantic" or "the Company") 
 
PLANTIC SHAREHOLDERS VOTE IN FAVOUR OF PROPOSED SHARE SCHEME AND PLANTIC OPTION 
                HOLDERS VOTE IN FAVOUR OF PROPOSED OPTION SCHEME 
 
Plantic (AIM:PLNT) announces that at the share scheme meeting held in Melbourne 
(and London via phone link) yesterday Melbourne time, Plantic's shareholders 
voted in favour of the previously announced share scheme of arrangement under 
which Gordon Merchant No. 2 Pty Ltd will acquire all of the ordinary shares in 
Plantic not already owned by it (Share Scheme). 
Plantic also announces that at the option scheme meeting held in Melbourne (and 
London via phone link) yesterday Melbourne time, Plantic option holders voted in 
favour of the previously announced option scheme of arrangement under which all 
of the Plantic options will be cancelled (Option Scheme). 
Share Scheme voting results 
Plantic advises that the resolution to approve the Share Scheme (Resolution 1) 
and the resolution to cancel admission of Plantic securities on AIM (Resolution 
2), as set out in the Share Scheme Notice of Meeting despatched to security 
holders on 14 October 2010, were passed by the requisite majorities of Plantic 
shareholders, with: 
·             91.55% of Plantic shareholders by number present and voting 
(either in person or by proxy) in favour of Resolution 1; 
·             93.10% of votes cast in favour of Resolution 1; 
·             91.55% of Plantic shareholders by number present and voting 
(either in person or by proxy) in favour of Resolution 2; and 
·             93.10% of votes cast in favour of Resolution 2. 
Option Scheme voting results 
Plantic also advises that the resolution to approve the Option Scheme, as set 
out in the Option Scheme Notice of Meeting despatched to Plantic option holders 
on 14 October 2010, was passed by the requisite majorities of Plantic option 
holders, with: 
·             93.33% of Plantic option holders by number present and voting 
(either in person or by proxy) in favour of the resolution; and 
·             99.64% of votes cast in favour of the resolution by value. 
Court approval 
Plantic has applied to the Supreme Court of Victoria (Court) for approval of the 
Share Scheme and the Option Scheme at a hearing scheduled for Friday, 26 
November 2010. 
Scheme consideration 
If the Share Scheme is approved by the Court, Plantic shareholders who hold 
Plantic shares on the record date for determining entitlements to receive the 
Share Scheme consideration (being 7.00 pm Melbourne time on 2 December 2010) 
will be paid GBP0.08 in cash per Plantic share from Gordon Merchant No. 2 Pty 
Ltd. 
If the Option Scheme is approved by the Court, Plantic option holders who hold 
Plantic options on the record date for determining entitlements to receive the 
Option Scheme consideration (being 7.00 pm Melbourne time on 2 December 2010) 
will be paid an amount in cash per Plantic option that has been calculated using 
the Black Scholes Model Valuation from Gordon Merchant No. 2 Pty Ltd. 
Subject to the Court's approval, both the Share Scheme and the Option Scheme 
consideration is expected to be paid to Plantic shareholders and Plantic option 
holders (as the case may be) on 10 December 2010. 
 
FURTHER INFORMATION: 
 
Plantic Technologies Limited 
Brendan Morris, Chief Executive Officer +61 (0) 3 9353 7983 
Matrix Corporate Capital LLP 
Stephen Mischler +44 (0) 20 3206 7203 
Tim Graham +44 (0) 20 3206 7206 
For more information on Plantic visit the company's website www.plantic.com.au. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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