INFS Infoserve

 

TIDMINFS 
 
RNS Number : 3351H 
Infoserve Group PLC 
18 February 2010 
 

                              Infoserve Group Plc 
 
                            Result of General Meeting 
 
On 29 January 2010, Infoserve Group Plc ("Infoserve" or the "Company") announced 
that it had entered into conditional agreements with David Hood, the Company's 
senior non-executive director and major shareholder, relating to the conversion 
of GBP2m of existing loans from David Hood into 40,000,000 ordinary shares of 5p 
each in the Company ("Ordinary Shares") and the provision by David Hood of a 
further loan facility of up to GBP800,000 (the "Proposals"). 
 
At the general meeting of the Company which took place earlier today, the 
resolution to approve the waiver granted by the Panel on Takeovers and Mergers 
of the obligation that would otherwise arise for David Hood to make an offer to 
acquire all of the Ordinary Shares not already owned by him was duly passed. 
 
The Proposals remain conditional upon admission of the new Ordinary Shares to 
trading on AIM ("Admission") which is expected to take place on 19 February 
2010. 
 
As a result of the passing of the resolution, and subject to Admission, David 
Hood has become entitled to an additional 40,000,000 Ordinary Shares and, 
subject to Admission, is now interested in 48,937,707 Ordinary Shares, 
representing 82.84% of the Company's enlarged issued share capital. 
 
+--------------------------------+----------------------------+ 
|                                |                            | 
| For further information,       |                            | 
| please contact:                | www.infoservegroup.com     | 
|                                |                            | 
| Infoserve Group Plc            | Tel:  0113 238 6200        | 
| Steve Barnes, Chief Executive  |                            | 
| steve.barnes@infoserve.com     |                            | 
|                                |                            | 
+--------------------------------+----------------------------+ 
| Jonathan Simpson, Finance      | Tel:  0113 238 6200        | 
| Director                       |                            | 
| jonathan.simpson@infoserve.com |                            | 
|                                |                            | 
+--------------------------------+----------------------------+ 
| Nominated Adviser              |                            | 
| WH Ireland Limited             |                            | 
| Robin Gwyn                     | Tel:  0161 832 2174        | 
+--------------------------------+----------------------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCLIFLAFSITLII 
 

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