Results of Court Meeting/EGM

RNS Number:3913M
Internet Business Group
23 January 2008

  Not for release, publication or distribution, in whole or in part, in, into or
    from any jurisdiction where to do so would constitute a violation of the
                       relevant laws of such jurisdiction


   RECOMMENDED OFFER BY TMN GROUP PLC ("TMN") FOR INTERNET BUSINESS GROUP PLC
                            ("IBG" or the "Company")

  to be effected by means of a Scheme of Arrangement under section 425 of the
                               Companies Act 1985

                      Results of Court and General Meeting

On 14 December 2007, the boards of IBG and TMN jointly announced a recommended
offer by TMN to acquire the entire issued and to be issued share capital of IBG
to be effected by way of a Court sanctioned scheme of arrangement under section
425 of the Companies Act 1985. A Scheme Document was posted to IBG Shareholders
on 20 December 2007 setting out the terms of the Acquisition.

The Board of IBG is pleased to announce that at the Court Meeting and General
Meeting, held earlier today at Jones Day, 21 Tudor Street, London, EC4Y 0DJ, all
of the resolutions approving the Scheme and the Acquisition were duly passed.

At the Court Meeting held today, a majority in number of Scheme Shareholders
present and voting (either in person or by proxy), representing not less than 75
per cent. in value of relevant Scheme Shares, voted in favour of the resolution
to approve the Scheme on a poll.

The voting of those members who cast votes either in person or by proxy at the
Court Meeting is set out below:

            No. of Scheme  % of Scheme    No. of Scheme % of Scheme % of issued
            Shareholders   Shareholders   Shares voted  Shares      Scheme
            voting         voting                       voted       Shares
FOR         70             95.89          47,374,675    99.76       61.37
AGAINST     3              4.11           116,236       0.24        0.15

At the General Meeting, also held today, the Special Resolution put to IBG
Shareholders in order to implement the Scheme was passed by the requisite
majority on a show of hands. The Chairman received proxies as follows:

              Shares          % of vote
FOR           41,592,620      96.64
AGAINST       250,455         0.58
DISCRETION    1,196,580       2.78
WITHHELD      0               0

Completion of the Acquisition remains subject to the satisfaction or waiver (if
capable of waiver) of the remaining Conditions set out in the Scheme Document
including, inter alia, the sanction of the Scheme and the associated reduction
of capital by the Court. The Court Hearing to sanction the Scheme is expected to
take place on 11 February 2008 and the Court Hearing to confirm the Reduction of
Capital is expected to take place on 13 February 2008. It is expected that the
last day for dealings in IBG Shares will be 12 February 2008 and that the Scheme
will become effective and dealings in the New TMN Shares will commence on 14
February 2008. As soon as practicable after the Effective Date and, in any
event, no later than fourteen days from the Effective Date, share certificates
will be dispatched to those Scheme Shareholders who hold their IBG Shares in
certificated form in respect of New TMN Shares.

Copies of the resolutions passed at the Court Meeting and the General Meeting
will shortly be available for inspection at the offices of Jones Day, 21 Tudor
Street, London, EC4Y 0DJ during usual business hours.

The definitions used or referred to in the Scheme Document dated 20 December
2007 apply in this announcement, unless the context otherwise requires.

Enquiries:

Internet Business Group Plc
Maziar Darvish, Chairman
020 7927 8102

Strand Partners Limited
James Harris / Braden Saunders
020 7409 3494

St Helen's Capital Limited
Ruari McGirr
020 7628 5582

Tavistock Communications Limited
Matt Ridsdale
020 7920 3150

Strand Partners, which is authorised and regulated in the United Kingdom by the
FSA, is acting exclusively for IBG and no one else in connection with the
Acquisition and the Scheme and will not be responsible to anyone other than IBG
for providing the protections afforded to clients of Strand Partners nor for
giving advice in relation to the Acquisition and the Scheme or any other matter
or arrangement referred to in this announcement.

Overseas Jurisdictions

The release, publication or distribution of this announcement in jurisdictions
other than the United Kingdom may be restricted by law and therefore any persons
who are subject to the laws of any jurisdiction other than the United Kingdom
should inform themselves about, and observe, any applicable requirements. This
announcement has been prepared for the purposes of complying with English law
and the City Code and the information disclosed may not be the same as that
which would have been disclosed if this announcement had been prepared in
accordance with the laws and regulations of any jurisdiction outside of England.

THIS ANNOUNCEMENT IS NOT A PROSPECTUS. IT DOES NOT CONSTITUTE OR FORM PART OF
ANY OFFER OF SECURITIES, OR CONSTITUTE SOLICITATION OF ANY OFFER OF SECURITIES.




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

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