Result of General Meeting

 

TIDMPLEI 
 
RNS Number : 1357O 
Pantheon Leisure PLC 
02 March 2009 
 

Pantheon Leisure plc / Epic: PLEI / Market: AIM / Sector: Leisure 
2 March 2009 
Pantheon Leisure plc ('Pantheon' or 'the Company') 
Result of General Meeting 
 
 
Pantheon Leisure plc is pleased to announce that the resolution set out in the 
circular to shareholders on 11 February 2009 was duly passed at the General 
Meeting of the Company held earlier today. 
 
 
**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] | 
+-------------------+----------------------------------+--------------------+ 
| Susie Callear     | St Brides Media & Finance        | Tel: [phone] | 
|                   | Limited                          |                    | 
+-------------------+----------------------------------+--------------------+ 
 
 
 
 
Further information 
 
 
Pantheon Leisure plc was formed to acquire businesses in the leisure sector 
 
 
Following the passing of the resolution the Company has agreed to acquire 
22,540,000 ordinary shares of 0.5 pence each in the share capital of AIM listed 
ADDleisure Plc ('the Sale Shares') together with its entire holding of 2,820,000 
warrants to subscribe for 2,820,000 new ordinary shares of 0.5 pence each in 
ADDleisure Plc ('the Sale Warrants') ('the Acquisition') from Reverse Take-Over 
Investments Plc ('RTI'), a wholly owned subsidiary of Westside Acquisitions Plc 
('the Agreement'). 
 
 
Under the terms of the Agreement, the Company has agreed to acquire the Sale 
Shares and the Sale Warrants for the aggregate amount of GBP500,000. The Sale 
Shares represent approximately 10.75% of the issued share capital of ADDleisure 
Plc, being RTI's entire holding of shares of ADDleisure Plc. 
 
 
The consideration payable under the Agreement will be satisfied by the issue of 
GBP500,000 7.5% unsecured convertible loan notes by the Company to RTI ('the 
Loan Notes'). The Loan Notes are convertible by RTI in whole or part at any time 
prior to their redemption, into new Ordinary Shares of 0.5 pence in the capital 
of the Company ('Ordinary Shares') at a conversion price of 1 pence per new 
Ordinary Share. Accordingly, if RTI exercises its rights to convert all the Loan 
Notes into Ordinary Shares, RTI will be issued with 50 million fully paid 
Ordinary Shares which represents approximately 29.4% of the then enlarged share 
capital of the Company. The Loan Notes will be redeemable at any time by the 
Company on or after the first anniversary of the date of issue and to the extent 
not redeemed or converted, will be repayable on 2 March 2014. 
 
 
Further information on ADDleisure can be found on its website at 
www.addleisure.com. 
 
 
 
 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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