22nd Aug 2008 15:03
SERVICEPower TECHNOLOGIES PLC
("SERVICEPower" OR THE "COMPANY")
Proposed capital restructuring and move to AIM - Result of EGM
22nd August 2008 - SERVICEPower (LSE:SVR), a market leader for outsourced service and field management, is pleased to announce that all resolutions proposed at the Extraordinary General Meeting of the Company held today were duly passed by Shareholders.
The Company plans to submit shortly a request for the cancellation of the Listing on the Official List and trading of Ordinary Shares on the Main Market of the London Stock Exchange (the "Exchange") and simultaneously release an AIM pre-admission announcement to the Exchange including the information specified in Schedule One to the AIM Rules (and its supplement for quoted applicants). It is currently anticipated that cancellation of the Listing and Admission to AIM will occur on Friday 26 September 2008 and not Tuesday 23 September 2008 as previously announced by the Company on 30 July 2008. The revised expected timetable of principal events is therefore:
|
Record Date for the Capital Reorganisation |
(following close of business on) 25 September 2008 |
|
Last day of dealings on Main Market |
25 September 2008 |
|
Expected date of cancellation of Official Listing, Admission to AIM effective and dealings commence on AIM of New Ordinary Shares |
26 September 2008 |
|
Expected date for crediting of CREST member accounts |
26 September 2008 |
|
Expected date for despatch of share certificates |
by 3 October 2008 |
In addition to the resolution approving the cancellation of the Listing, resolutions approving the Company's capital reorganisation, the adoption of new articles of association and the issue of new Ordinary Shares in connection with the Placing and the Facility on a non pre-emptive basis (further details of which were announced by the Company on 30 July 2008) were also duly passed by the Shareholders. Copies of the approved resolutions from the Company's Extraordinary General Meeting held earlier today will be submitted to the UK Listing Authority and will shortly be available for inspection at the UK Listing Authority's Document Viewing Facility, which is situated at:
Financial Services Authority
25 The North Colonnade
Canary Wharf
London
E14 5HS
For further information, please contact:
|
SERVICEPower Technologies PLC |
KBC Peel Hunt Ltd. |
ICIS Limited |
|
Tel: +1 410 571 6333 |
Tel: 020 7418 4900 |
Tel: 020 7651 8688 |
|
Mark Duffin, Executive Director |
Oliver Scott |
Tom Moriarty |
|
Adele Oliver, Vice-President Marketing |
Matt Goode |
Bob Huxford |
About SERVICEPower
SERVICEPower, publicly traded on the London Stock Exchange (LSE:SVR), allows companies to locate their employed field resources in the right geography, ensure they have the right mix of skills, and outside this geography create a network of independent, authorized service contractors whose costs are efficiently managed by our sophisticated warranty management software. The schedules and routes for both the employed field resources and the independent servicers are optimised by SERVICEPower's technology to ensure the right balance between the cost of operations and ensuring customers receive a superior service experience.
Related Shares:
SVR.L