11th Oct 2006 15:01
Hill & Smith Hldgs PLC11 October 2006 Result of Extraordinary General Meeting and Disposal Result of Extraordinary General Meeting On 12 September 2006 the Directors of Hill & Smith Holdings PLC ('Hill & Smith' or the 'Company') announced that the Company was proposing to raise approximately £28.0 million before expenses by means of a Placing and Open Offerof 12,280,702 New Ordinary Shares at 228 pence per share. The Company was required to obtain certain shareholder approvals and accordingly an Extraordinary General Meeting of the Company was convened for 11.00 a.m. today.The Directors of Hill & Smith are pleased to announce that at the ExtraordinaryGeneral Meeting all the resolutions required to implement the Placing and Open Offer were duly passed. The completion of the Placing and Open Offer is now subject only to the admission of the New Ordinary Shares to the Official List and to trading on theLondon Stock Exchange's main market for listed securities. The New Ordinary Shares are expected to be so admitted at 8.00 a.m. on 16 October 2006. A copy of the document setting out the resolutions has been submitted to the UK Listing Authority's Document Viewing Facility, which is situated at: Financial Services Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS. Disposal Hill & Smith also announces that on 6 October 2006 it completed the disposal oftwo non-core subsidiaries, W&S Allely Ltd ("Allely") and Eden Material Services(UK) Ltd ("Eden") to a new company formed by the management of Allely and Eden. The cash consideration of £0.7 million is equal to the value of the net assets disposed of. In the year ended 31 December 2005 the aggregate turnover and profit before taxation of the two companies were £8.2 million and £0.2 million respectively. 11 October 2006 Enquiries: Hill & Smith Holdings PLCDavid GroveGroup Chief ExecutiveTel: 0121 704 7430Mobile: 07973 325667 Arden Partners plcChristopher HardieTel: 020 7398 1639Mobile: 07796 343234 Freshwater PR and MarketingEdward CarterTel: 0121 633 7775Mobile: 07770 378097 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Hill & Smith