Notice of EGM

RNS Number:7663I
Innobox PLC
11 September 2006



                         INNOBOX PLC (the "Company")

                        SHARE CAPITAL REORGANISATION


The directors of Innobox Plc announce that they have today posted to
shareholders a circular containing a notice of an extraordinary general meeting
to be held at 9.00 a.m. on Monday, 9 October 2006 at the Company's registered
office, Meriden House, 6 Great Cornbow, Halesowen, West Midlands  B63 3AB (the "
EGM").  The resolutions to be proposed at the EGM concern a reorganisation of
the ordinary share capital of the Company (the "Share Capital Reorganisation"),
which is described further below.

The closing mid-market price of an ordinary share was 1.63 pence on 8 September
2006.  The Company's share price is therefore below the nominal value of each
ordinary share (being 2 pence each).  This almost certainly precludes the
Company from raising any further equity funds since, in order to comply with the
Companies Act 1985, any further shares would have to be issued at a price at or
above the nominal value.  Accordingly, so as to facilitate any future
fundraising, it is necessary to reduce the nominal value of the Company's
ordinary shares from the present level of 2 pence per share.

It is proposed that each issued existing ordinary share of 2 pence each (the "
Existing Ordinary Shares") and each authorised but unissued Existing Ordinary
Share will be subdivided and reclassified into one new ordinary share of 0.05
pence each (the "New Ordinary Shares") and thirty-nine deferred shares of 0.05
pence each (the "Deferred Shares").

The rights attaching to the New Ordinary Shares will, save for the change in
nominal value and the entitlement of shareholders in respect of a return of
capital or other distributions arising therefrom, be identical in all respects
to those of the Existing Ordinary Shares.

The Deferred Shares created on the Share Capital Reorganisation becoming
effective will have no voting or dividend rights and, on a return of capital,
the right only to receive the amount paid up thereon after the holders of New
Ordinary Shares have received the aggregate amount paid up thereon plus #100 per
New Ordinary Share.  They will in effect be valueless.

On completion of the Share Capital Reorganisation, new share certificates will
be issued.

Application will be made for the New Ordinary Shares to be admitted to AIM.
Subject to the passing of the necessary resolutions at the EGM, it is expected
that admission of the New Ordinary Shares will take place on 10 October 2006.

Copies of the circular are available to members of the public from the Company's
registered office, Meriden House, 6 Great Cornbow, Halesowen, West Midlands B63
3AB for a period of one month following this announcement.


Enquiries:

Russell Stevens                        07860 562621
Chief Executive, Innobox Plc  [e-mail]

Richard Morrison                       020 7601 6115
Hanson Westhouse LLP                   [e-mail]




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