Result of EGM

RNS Number:9111S
Universal Direct Group PLC
05 December 2003


FOR IMMEDIATE RELEASE                         5 December 2003


                       Universal Direct Group plc ("UDG")
                  Result of the Extraordinary General Meeting

The Board of UDG announces that at the Extraordinary General Meeting held on 3
December 2003, all the resolutions, set out in the Notice of Extraordinary
General Meeting dated 6 November 2003, necessary for the reduction of share
capital, the cancellation of share premium account and the necessary amendment
to the Articles of Association, were passed.

UDG will now arrange for the requisite Court proceedings to sanction the
reduction of capital and the cancellation of the share premium account. A
provisional Court date has been set for 21 January 2004 for the hearing of UDG's
Petition. If the Court is satisfied that the interests of UDG's creditors are
not adversely affected by the proposals, it will make an Order sanctioning them.
The Court Order will then be filed with the Registrar of Companies at Companies
House and the reduction of capital and the cancellation of share premium account
will become effective upon the issue of a certificate of registration of the
Order. These steps will extinguish the deficit on UDG's profit and loss account
and brings forward the date on which, subject to the achievement of sufficient
profitability, UDG can pay dividends to shareholders.


Enquiries to :   Edward Adams, Chairman                   07967 008 448
                 Universal Direct Group plc

                 Roland Cornish, Chairman                 020 7628 3396
                 Rod Venables
                 Beaumont Cornish Limited


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

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