29th Jul 2005 10:30
Gleeson(M J)Group PLC29 July 2005 M J Gleeson Group plc Shareholders Approve MBO of Building Contracting Activities M J Gleeson Group plc, the construction services, homes and property group,announces that, at an Extraordinary General Meeting held today, the sale by itssubsidiary Gleeson Construction Services Limited of certain assets andliabilities of its building contracting operations to a management buy out teamwas approved. The proxy votes cast were as follows: For: 22,906,838 Against: 169,072 Abstentions: 585,077 Group Chairman Dermot Gleeson said: "I would like to thank our shareholders for supporting a proposal which Ibelieve will greatly strengthen the Gleeson Group's long term prospects. I would also like to take this opportunity to thank our Chief Executive, TerryMassingham, very warmly for the energy, skill and commitment he has displayedsince his appointment in March. Now that the MBO has been approved, I propose tocomplete the transfer of my executive responsibilities to Terry by the beginningof October 2005. I will however, remain an active Chairman, focusing principallyon the development of Group strategy." Enquiries: M J Gleeson Group PLC 020-8644 4321Dermot Gleeson (Chairman)Terry Massingham (Chief Executive)Colin McLellan (Finance Director) Close Brothers 020-7655 3100Peter AlcarazGareth Davies Bankside Consultants 020-7367 8851Charles Ponsonby This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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