20th Apr 2007 10:17
Universe Group PLC20 April 2007 For immediate release: 20 April 2007 Universe Group PLC Result of EGM Universe Group PLC, ("Universe" or "the Company"), the retail and loyaltysystems company, is pleased to announce that at the Company's ExtraordinaryGeneral Meeting, held earlier today, all of the resolutions, which relate to theproposed placing of 42,857,143 new ordinary shares at 7.0p per share to raise£3.0 million before expenses (the "Placing"), were duly passed. The new ordinary shares are expected to be admitted to trading on AIM witheffect from 8.00 am on 23 April 2007. John Scholes, Chairman of Universe said: "The Company has a new management team and a new strategy for growth. We were pleased to have received significant institutional investment support for this Placing, raising £3.0 million. We have also negotiated a new banking facility with HBOS. With a strong financial and operational platform in place, and a keener focus on our product offering, the challenge is now to invest in sales and marketing and deliver on our growth strategy." He added: "The short-term environment is favourable with legislative and regulatory drivers such as Stage II Vapour Recovery which is requiring many of the UK's petrol retailers to upgrade their pumps and forecourt systems. Alongside this we intend to focus on multi-national petrol retailing companies, who we believe are focusing increasingly on customer loyalty, not only in the UK but also across many of the countries in which they operate. We look forward to updating shareholders on our progress in due course." The Company is aware of the following interests that are or will be helddirectly or indirectly in 3 per cent. or more of the total voting rights of theCompany upon completion of the Placing and admission: Shareholder Number of Percentage of Ordinary Shares enlarged Total following Voting Rights completion of following the Placing completion of the PlacingEnnismore FundManagement Ltd 18,217,122 15.88%Ray Mackie 8,557,397 7.46%Singer &FriedlanderInvestmentManagement Ltd 6,354,164 5.54%F&C AssetManagement Plc 4,304,559 3.75% Following the Placing and admission of the new ordinary shares to trading onAIM, the Company's total voting rights will comprise of 114,704,539 ordinaryshares being the issued share capital of the Company. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the Disclosure and Transparency Rules. For further information please visit www.universe-group.co.uk or contact: Universe Group plc Charles Stanley Tavistock Securities CommunicationsJohn Scholes, Chairman Russell Cook John WestPaul Cooper, Chief Carl Holmes Andrew DunnExecutiveTel: 02380 689510 Tel: 020 7149 6000 Tel: 020 7920 3150 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
UNG.L