SSV Siteserv

TIDMSSV

RNS Number : 0694D

Siteserv PLC

10 May 2012

Siteserv plc ("Siteserv" or the "Company")

RESULT OF EGM

The Board of Siteserv announces that the required majority of Siteserv Shareholders voted in favour of the Proposed Cancellation of Siteserv's trading facility on AIM and ESM at an EGM held in Dublin earlier today.

Results of EGM

The Resolution put to the Extraordinary General Meeting, convened in accordance with the Notice of EGM set out in the circular to Shareholders dated 16 April 2012 (the "EGM Circular"), was passed with the details of the votes being as follows:

 
           Number of       Number of       Number of         Number of 
            Shares voted    Shares voted    Shares voted      Shares in 
                            for the         against           respect 
                            Resolution      the Resolution    of which 
                                                              a vote was 
                                                              withheld 
--------  --------------  --------------  ----------------  ------------ 
 Totals    76,744,551      76,582,527      56,544            105,480 
--------  --------------  --------------  ----------------  ------------ 
 Percentage of Shares 
  voted                    99.93%          0.07%             N/A 
------------------------  --------------  ----------------  ------------ 
 

Completion and Timing of Proposed Cancellation

As set out in the EGM Circular, the Cancellation remains conditional on Completion of the Proposed Disposal which itself remains subject to a number of conditions, including receipt of approval from the Irish Competition Authority.

It is expected, subject to Completion occurring, that Cancellation will take place on the business day following Completion which is expected to occur towards the end of May 2012 but in any event Cancellation will occur no earlier than 18 May 2012. A further announcement concerning timing of Completion and Cancellation will be made in due course.

Assuming Completion occurs, a further extraordinary general meeting will be convened in order to approve, inter alia, the appointment of a liquidator to effect the winding up of the Company and distribution of net proceeds to Shareholders. In the period from Cancellation, if it occurs, up to the date on which the Liquidation becomes effective, Shareholders may seek to effect transactions in the Company's shares in accordance with the relevant provisions of the Company's articles of association a copy of which is available on the Company's website.

Definitions used in the EGM Circular have the same meaning when used in this announcement, unless the context requires otherwise.

Contacts

 
 
  Siteserv plc 
 Brian Harvey, Chief 
  Executive 
  Niall Devereux, Group 
  Finance Director           Tel:     + 353 1 6011 550 
 
  Davy Corporate Finance 
 Des Carville, Director 
  Nicholas O'Gorman          Tel:     + 353 1 679 6363 
 
  FD KCapital Source 
  Jonathan Neilan            Tel:     +353 1 663 3686 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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