Result of General Meeting and Update on De-Listing
16 Dezember 2009 - 12:59PM
UK Regulatory
TIDMBCT
RNS Number : 2178E
Business Control Solutions Grp PLC
16 December 2009
16 December 2009
Business Control Solutions Group plc
(the "Company")
Result of General Meeting
and
Update on De-Listing
The Company is pleased to announce that all the resolutions put to the General
Meeting held earlier today were passed.
Update on De-Listing
An application has been made to the London Stock Exchange for the cancellation
of admission to trading on AIM of the Company's Ordinary Shares. Following the
passing of Resolution 1 at the General Meeting, cancellation is expected to
become effective at 7.00 a.m. on 24 December 2009.
The attention of Shareholders is drawn to the Circular which sets out the risks
associated with retaining an interest in the Company following De-Listing
becoming effective. In particular, it should be noted that there will be no
market facility for dealing in the Ordinary Shares and no price will be publicly
quoted for the Ordinary Shares as from the close of business on 23 December
2009. As such, liquidity in, and marketability of, the Ordinary Shares will be
very limited and holdings of Ordinary Shares will be difficult to value and to
trade.
The Directors are aware that some Shareholders may still wish to acquire or
dispose of Ordinary Shares, but that De-Listing will make it more difficult for
them to do so. The Directors intend to make available following the De-Listing
becoming effective a new matched bargain service via J P Jenkins Limited.
Further details of this will be made available via the Company's website and
directly by letter or e-mail to Shareholders, where appropriate.
To the extent that Shareholders are unable or unwilling to hold Ordinary Shares
in the Company following the De-Listing becoming effective, or wish to realise
their investment in the Company beyond their participation in the Tender Offer,
such Shareholders should consider selling their Ordinary Shares on AIM prior to
the De-Listing becoming effective, which is expected to be at 7.00 am on 24
December 2009.
A copy of the Circular can be found on the Company's website at
www.bcsplc.com. Terms used in this announcement have the same meaning as in the
Company's announcement dated 24 November 2009.
For further information, please contact:
+--------------------------------------+----------+------------------------+
| Business Control Solutions Group plc | | 0207 648 2050 |
+--------------------------------------+----------+------------------------+
| Nigel Walder, CEO | | |
+--------------------------------------+----------+------------------------+
| Roger Shepherd, Finance Director | | |
+--------------------------------------+----------+------------------------+
| | | |
+--------------------------------------+----------+------------------------+
| Financial Dynamics Limited | | 0207 831 3113 |
+--------------------------------------+----------+------------------------+
| James Melville-Ross | | |
+--------------------------------------+----------+------------------------+
| Haya Herbert-Burns | | |
+--------------------------------------+----------+------------------------+
| | | |
+--------------------------------------+----------+------------------------+
| Arbuthnot Securities Limited | | 020 7012 2000 |
+--------------------------------------+----------+------------------------+
| Tom Griffiths | | |
+--------------------------------------+----------+------------------------+
END
This information is provided by RNS
The company news service from the London Stock Exchange
END
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