14th Mar 2007 12:04
14 March 2007 TEP Exchange Group PLC ("TEP" or the "Company") Result of EGM, result of Open Offer and Placing
The directors are pleased to announce that at the extraordinary general meeting ("EGM") held earlier today, all resolutions proposed were duly passed.
The circular to shareholders dated 16 February 2007 (the "Circular") contained details of a conditional Placing and Open Offer of 175,456,573 New Ordinary Shares at 0.2p per share.
As at the closing of the Open Offer at 11.00 a.m. on 12 March 2007 applications had been received as follows:
No. of Offer Shares ‚£ Number of Offer Shares available 99,797,077 199,594.15 Total Offer Shares applied for 51,837,844 103,675.69 Percentage of Offer Shares taken up 51.94%
Accordingly, and in addition to the 51,837,844 New Ordinary Shares issued under the Open Offer, the Company has issued 123,618,729 ordinary shares to certain shareholders and other investors, 75,659,496 of which were placed firm and the remainder of which were placed subject to clawback in respect of the Open Offer.
The Company has made application for these shares to be admitted to trading on AIM and dealings are expected to commence on 15 March 2007.
Therefore, the Company has issued a total of 175,456,573 New Ordinary Shares at 0.2p per share. Pursuant to the completion of the Placing and Open Offer and the Capital Reorganisation, following admission of the new ordinary shares, the Company will have a total of 399,999,999 ordinary shares of 0.01p each in issue.
Definitions used in this announcement shall have the same meaning as given inthe Circular.For enquiries:TEP Exchange Group PLC George Kynoch 07860 743425 John East & Partners Limited John East/Bidhi Bhoma 020 7628 2200
TEP EXCHANGE GROUP PLCRelated Shares:
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