Result of EGM and Open Offer

RNS Number:0787S
Multi Group PLC
14 November 2003


                     Multi Group Plc ("Multi" or "Company")
                          Result of EGM and Open Offer


The directors of Multi are pleased to announce that at the extraordinary general
meeting of the Company held today all of the resolutions proposed were passed.

The directors of Multi are also pleased to announce that the Company has
received applications for 71,624,431 new ordinary shares of 0.01p ("Ordinary
Shares") pursuant to the Open Offer announced on 16 October 2003, representing
154.2 per cent. of the total number of shares available.  Applicants will
therefore receive their guaranteed entitlement, being an equivalent number to
those shares held by them on the record date of 10 October 2003 and
approximately 27.3 per cent. of any excess application made.

The Placing and Open Offer has raised in aggregate #2.04 million for the
Company, before expenses.

Application has been made for the existing ordinary shares to be cancelled from
the Official List with effect from the close of business today and for
250,394,923 Ordinary Shares to be admitted to trading on the Alternative
Investment Market of the London Stock Exchange with effect from Monday 17
November ("Admission").

At the Annual General Meeting, held immediately prior to the EGM, Keith Ferguson
resigned as a director of the Company. At Admission, Russell Bracegirdle will
step down as a director of the Company and Oliver Cooke will be appointed as the
Company's Executive Chairman.

Following the EGM, the Company is aware of the following significant interest in
its issued share capital

                                 Number of Ordinary Shares   Percentage of issued share
                                                                                capital
Shareholder

Southwind Limited                              135,000,000                        53.9%
F R Bracegirdle                                 18,979,172                         7.6%
Eaglet Investment Trust plc                     15,780,762                         6.3%
M E W Jackson                                   10,000,000                         4.0%


In addition, Andrew Brundle, finance director, is interested in 6,386,651
Ordinary Shares, representing 2.6 per cent. of the issued share capital of the
Company.  Oliver Cooke, Executive Chairman, has no interest in any Ordinary
Shares.

Pursuant to the 2003 Share Option Scheme, approved at the EGM, Andrew Brundle
has been granted an option to subscribe for 2,500,000 new Ordinary Shares at 1p
per share between 17 November 2004 and 16 November 2009.  Other employees of the
Multi group have been granted options over an aggregate of 8,018,000 new
Ordinary Shares at 1p per share between 17 November 2004 and 16 November 2009.

In addition, Oliver Cooke has been granted an option over 9,000,000 new Ordinary
Shares at 1p per share, exercisable at any time between Admission and 16
November 2013 and Corporate Synergy PLC has been granted an option over
7,511,847 new Ordinary Shares at 1p per share, exercisable at any time between
Admission and 16 October 2008.

Oliver Cooke, Executive Chairman designate, commented:

"The level of support from shareholders has been most encouraging. As the new
Chairman I look forward with enthusiasm to the Group's return to profitability
and to its future development."



Enquiries:

Oliver Cooke / Andrew Brundle, Multi Group Plc - 020 8253 5899

William Vandyk, Corporate Synergy PLC - 020 7626 2244


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