EGM Statement

RNS Number:3422S
Bizspace PLC
21 November 2003

BIZSPACE PLC (the "Company")

21 November 2003


RESULT OF EGM AND OPEN OFFER



On 29 October 2003, Bizspace plc, the provider of flexible managed workspace for
small to medium sized businesses, announced a placing (the "Placing") and open
offer (the "Open Offer") of 19,013,175 new ordinary shares at 28p per new
ordinary share (the "Issue Price") to raise approximately #4.95 million after
expenses.  At the Company's EGM held today, the resolution, as detailed in the
circular to shareholders dated 29 October 2003, was duly passed.


Result of Open Offer

The Open Offer closed at 3.00pm on 19 November 2003, at which time valid
applications had been received for 11,951,666 new ordinary shares, representing
62.86 per cent. of the new ordinary shares which could be taken up under the
Open Offer.  In addition, shareholders representing approximately 27 per cent of
the issued share capital had agreed to renounce their entitlements which were
placed firm with investors on announcement of the Open Offer.

The balance of the new ordinary shares not taken up by qualifying shareholders
under the Open Offer or placed firm with institutions, totaling 1,919,709
(approximately 10 per cent of the issue) have been conditionally placed at the
Issue Price by Teather & Greenwood Limited, as agent for the Company, with
institutional investors.

The Placing and Open Offer remains conditional on the admission to trading of
the new ordinary shares on the Alternative Investment Market of the London Stock
Exchange.



The new ordinary shares to be issued pursuant to the Placing and Open Offer are
expected to commence trading on 24 November 2003.


Contacts:


Bizspace plc                                     020 8815 1616
Paul Davis


Teather & Greenwood Limited                     020 7426 9000
Christopher Hardie
David Galan




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