ANC Abingdon Cap

RNS Number:3970F
Abingdon Capital PLC
19 December 2002

Abingdon Capital plc

19 December 2002



For immediate release




           Abingdon Capital plc ("Abingdon Capital" or "the Company")

                 Demerger of interests - Court approval obtained



The Company is pleased to announce that on 18 December 2002 the Court approved
the demerger of the Company's shares in Bionex Investments plc ("Bionex") and in
Redstone plc ("Redstone") by way of a share capital reduction, details of which
were set out in a circular to shareholders dated 8 November 2002 (the
"Circular").  The share capital reduction became effective on 19 December 2002
when the order of the Court was registered by the Registrar of Companies.



Accordingly, shareholders with registered addresses in the United Kingdom will
receive 1.263  ordinary shares in Bionex and 1.865 ordinary shares in Redstone
for every ordinary share of Abingdon Capital they hold on the record date, that
is, at the close of business on 19 December 2002.  Fractional entitlements will
not be distributed.  The entitlements of shareholders with registered addresses
outside the United Kingdom will be held by Capita IRG Trustees Limited with a
view to such shares being sold in the market for the best price reasonably
obtainable and the net proceeds of sale being paid to such overseas shareholders
where the net proceeds exceed #3.



Shareholders will shortly receive details of share dealing arrangements which
are being established in relation to their holdings in Bionex and Redstone.



Contact:

Chris Roberts            Abingdon Capital plc            020 7937 4445


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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