EGM Statement

    RNS Number : 6311B
  Pantheon Leisure PLC
  19 August 2008
   

    Pantheon Leisure plc / Epic: PLEI / Market: AIM / Sector: Leisure
    19 August 2008
    Pantheon Leisure plc ('Pantheon' or 'the Company')
    General Meeting Statement

    Pantheon Leisure plc, an AIM quoted company formed to acquire businesses in the leisure sector, advises that at today's General Meeting
of the Company, all resolutions in relation to the Capital Reorganisation and the Capital Cancellation proposed on 25 July 2008, have been
duly passed. 

    Currently, the nominal value of the Company's Ordinary Shares is more than their market value. The Capital Reorganisation, which has
been approved by Shareholders today, will have the effect of reducing the nominal share capital of the Company to 0.5p per New Ordinary
Share, thereby bringing the nominal value of the Company's New Ordinary Shares below their market value.

    In order to maintain the same number of fully participating Ordinary Shares after the Capital Reorganisation as there were before such
reorganisation, each Ordinary Share will be sub-divided into one New Ordinary Share and one Deferred Share.  The Deferred Shares will have
no right to vote, only limited rights to participate in dividends and only limited deferred rights on any return of capital.  The rights
attaching to the New Ordinary Shares will be identical in all respects to those of the Ordinary Shares.  No application will be made for the
Deferred Shares to be admitted to AIM or on any other recognised investment exchange and no certificates in respect of the Deferred Shares
will be sent to Shareholders.  All Warrants and Options, which have been granted and issued by the Company, will be adjusted in the same
manner as the Ordinary Shares.

    The Company is not currently in a position to pay dividends or effect a purchase of its own shares since its profit and loss account is
in deficit.  The Capital Cancellation will result in a new reserve being created against which the Company expects to be able to eliminate
the entire deficit in its profit and loss account.  The Capital Cancellation will become effective once the Court Order confirming the
cancellation is registered with the Registrar of Companies.

    * * ENDS * *

    For further information please visit www.pantheonleisure.com or contact:
 Geoffrey Simmonds  Pantheon Leisure plc                  Tel: [phone]
 Liam Murray        Dowgate Capital Advisers Limited      Tel: [phone]
 Neil Badger        Dowgate Capital Stockbrokers Limited  Tel: [phone]
 Susie Callear      St Brides Media & Finance Limited     Tel: [phone]


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