Result of general meeting

 

TIDMSOV 
 
RNS Number : 8944T 
SovGEM Limited 
15 June 2009 
 

 
 
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|                                         |                          15 June 2009 | 
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SovGEM Limited 
 
 
("SovGEM" or "the Company") 
 
 
Result of General Meeting 
 
 
SovGEM Limited (AIM:SOV), announces that, at the Company's general meeting held 
earlier today, all of the ordinary and special resolutions proposed to 
shareholders (as set out in the circular to shareholders dated 20 May 2009) 
('the Circular') were duly passed. 
 
 
The ordinary and special resolutions included the approval of the acquisition of 
Hanson Westhouse Holdings Limited ("Hanson Westhouse"), the Company's change of 
name to Hanson Westhouse Holdings plc and the consolidation by a ratio of 5:1 of 
the Company's ordinary shares into ordinary shares of 0.005 pence each ("New 
Shares"). 
 
 
It is expected that the issued share capital of the Company as enlarged by, 
inter alia, the acquisition of Hanson Westhouse and the placing of New Shares to 
raise GBP850,000, will be admitted to trading on AIM on 16 June 2009 
("Admission"). It is also expected that the Company will trade under its new 
name with the stock market EPIC HWH.L from Admission.  A total of 5,475,625 New 
Shares have been issued in consideration for the acquisition, representing 
approximately 47.78 per cent. of the enlarged share capital of the Company on 
Admission, and a further 1,428,571 New Shares have been issued to raise 
GBP850,000. The issued share capital of the Company on Admission will comprise 
11,459,196 New Shares. 
 
 
The proposed Board changes set out in the Circular will also become effective on 
Tuesday 16 June 2009.  William Staple has been appointed Chief Executive, 
Jonathan Azis has been appointed Finance Director, and Sir Hayden Phillips and 
Andrew Beeson have been appointed Non-executive Directors of the Company.  Garth 
Milne will remain as Chairman of the Company.  The other SovGEM directors have 
resigned, although Hugh de Lusignan, currently Chief Executive, and Douglas 
Kearney, currently Finance Director, will continue working within the 
Hanson Westhouse business. 
 
 
Save as disclosed in the Circular there is no further information that is 
required to be disclosed regarding the Directors under schedule 2(g) of the AIM 
Rules for Companies. 
 
 
Garth Milne, Chairman of SovGEM Limited, said: "We are extremely pleased that 
all the resolutions have been duly passed and that the enlarged group can 
commence trading as Hanson Westhouse Holdings plc tomorrow.  We recognise the 
market need for a return to high-quality, relationship-driven corporate broking 
and advisory services.  The Board of Hanson Westhouse and its 
industry-recognised advisory panel is well placed in the market cycle, with the 
right sector and geographic offering, to build a long-term successful business 
on behalf of our shareholders. 
 
 
"I would also like to take this opportunity to thank those of the SovGEM 
directors who are not continuing with the enlarged group for their support and 
assistance since SovGEM's admission to AIM in 2004." 
 
 
- Ends - 
 
 
For further information: 
 
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| SovGEM Limited                                  |                              | 
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| Garth Milne, Chairman                           |    Tel: [phone] | 
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| Hugh de Lusignan, Chief Executive Officer       |   Tel: [phone]  | 
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| [e-mail]                  |               www.sovgem.com | 
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| Hanson Westhouse Holdings plc                   |                              | 
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| William Staple, Chief Executive                 |    Tel: [phone] | 
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| [e-mail]              |      www.hansonwesthouse.com | 
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| Nominated Adviser                               |                              | 
| Smith & Williamson Corporate Finance Limited    |                              | 
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| Azhic Basirov / Joanne Royden-Turner            |    Tel: [phone] | 
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| [e-mail]              |   www.smith.williamson.co.uk | 
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| Broker                                          |                              | 
| Hanson Westhouse Limited                        |                              | 
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| Tim Metcalfe                                    |    Tel: [phone] | 
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| [e-mail]                |      www.hansonwesthouse.com | 
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Media enquiries: 
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| Abchurch Communications Limited                 |                              | 
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| Henry Harrison-Topham / Jack Ballantyne         |    Tel: [phone] | 
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| [e-mail]              |      www.abchurch-group.com  | 
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This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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