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Share Name | Share Symbol | Market | Type |
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Merchants Grp. | AMEX:MGP | AMEX | Ordinary Share |
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RNS Number:0912M Magnum Power PLC 09 June 2003 ANNOUNCEMENT to RNS 9 JUNE 2003 MAGNUM POWER PLC ("Magnum" or the "Company") Approval of Proposals relating to a refinancing of the Company The Company is pleased to announce that, an Extraordinary General Meeting of the Company held today, resolutions in connection with the following Proposals were duly passed: *A subscription of, in aggregate, #200,000 for new Ordinary Shares in the Company by a group of investors, namely Edward Adams, Nicholas Lebetkin and Laurence Selman (" the Investor Group") *A waiver by the Panel on Takeovers and Mergers of the obligations on the Investor Group under Rule 9 of the City Code *A share capital reorganisation *Alterations to the Company's Articles of Association *A change of the Company's name to RAM Investment Group plc The resolution approving the waiver of the obligations on the Investor Group under Rule 9 of the City Code was taken on a Poll (as required by the City Code) Following the Extraordinary General Meeting a total of 4,000,000 new Ordinary Shares of 1p each (resulting from the share capital reorganisation) will be issued and allotted to the Investor Group. Trading in the new Ordinary Shares will commence on 10 June 2003. The following table shows the respective individual holdings of Edward Adams, Nicholas Lebetkin and Laurence Selman following the issue and allotment of the new Ordinary Shares: Percentage of Number of New enlarged issued Ordinary Shares Ordinary Share Capital Edward Adams 1,000,000 20% Nicholas Lebetkin 1,500,000 30% Laurence Selman 1,500,000 30% ------------ --------------- 4,000,000 80% ------------ --------------- For further information please contact: Edward Adams Magnum Power plc 020 7209 1324 Roland Cornish/ Rod Venables Beaumont Cornish Limited 020 7628 3396 This information is provided by RNS The company news service from the London Stock Exchange END EGMEADKNELKDEFE
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