5th Aug 2005 17:33
Low & Bonar PLC05 August 2005 Low & Bonar PLC (the "Company") 5 August 2005 Proposed disposal of Bonar Plastics Posting of shareholder circular and Notice of Extraordinary General Meeting Following the announcement by the Company on 19 July 2005 that it has agreed tosell Bonar Plastics to Promens hf. and Promens Germany GmbH, subsidiaries ofAtorka Group hf. (the "Disposal"), Low & Bonar PLC will today be posting acircular to shareholders (the "Circular") containing information regarding theDisposal and convening an Extraordinary General Meeting of the Company to seekshareholder approval of the Disposal. The Circular also contains details of the proposed reduction of share capitaland cancellation of share premium account of the Company (the "CapitalReorganisation"), details of which were also announced on 19 July 2005. In addition, the Company is seeking shareholder approval for an amendment to theLow & Bonar 2003 Long-Term Incentive Plan to effect the revised remunerationpolicy of the Company's senior executive team, and for certain amendments to theborrowing powers provisions of its articles of association. Full details of all four proposals are contained in the Circular. The Circularcontains a Notice convening an Extraordinary General Meeting of the Company atwhich shareholders will be asked to consider and, if thought fit, approve theseproposals. The expected timetable in relation to the Extraordinary General Meeting issummarised below: 11.00 a.m. on 29 August 2005 - Latest time and date for receipt of forms ofproxy for shareholders 11.00 a.m. on 31 August 2005 - Extraordinary General Meeting References to time in the above timetable are to British Summer Time and if anyof the above times and/or dates change, the revised times and/or dates will benotified to shareholders by announcement on a Regulatory Information Service. The Disposal is expected to complete in early September 2005. The Circular has also been submitted to the UK Listing Authority and willshortly be available for inspection at the UK Listing Authority's DocumentViewing Facility which is situated at: Financial Services Authority, 25 TheNorth Colonnade, Canary Wharf, London, E14 5HS, telephone 020 7066 1000. Inaddition, the Circular will also be posted on the Low & Bonar PLC website.Contacts: Low & Bonar PLC +44 (0) 20 7298 6820 Jon Kempster, Group Finance Director Tulchan Communications +44 (0) 20 7353 4000David Trenchard END This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
LWB.L