Result of AGM and EGM

RNS Number:7512K
Mallett PLC
06 May 2003

6 May 2003


Mallett PLC ("Mallett" or "the Company")

Result of the Annual General Meeting ("AGM") and Extraordinary General Meeting
("EGM")

At the AGM held today, Resolutions 1 to 7 were duly passed. The Chairman then
adjourned the meeting without Resolutions 8 and 9 being voted upon following an
indication by Trefick Limited, which currently owns 25.03% of the Company's
shares, that it would vote against these resolutions.

The EGM was also adjourned as a result of Trefick Limited indicating that it
would vote against both the proposed resolutions.

The Board will inform shareholders of the date(s) for holding the adjourned AGM
and EGM in due course.

Enquiries:

Peter Dixon, Finance Director      020 7499 7411


Notes


 1. Resolution 8 at the AGM proposed that the directors be given power to allot
    relevant securities up to a maximum of #230,000 under section 80 of the
    Companies Act 1985.

 2. Resolution 9 at the AGM proposed to disapply pre-emption rights over the
    issue for cash of up to 5% of the Company's share capital in certain
    circumstances.

 3. The EGM had been convened in order to facilitate the Company making market
    purchases of up to 10% of its issued share capital.

  * Resolution 1 at the EGM proposed the approval of the waiver granted by the
    Panel on Takeovers and Mergers of any requirement for one of the Company's
    major shareholders to make a general offer as a result of the potential
    exercise of the Company's power to purchase its shares.

  * Resolution 2 at the EGM proposed that, subject to the passing of
    Resolution 1, the Company be authorised under the Companies Act 1985 to make
    market purchases of up to 10% of its issued share capital.


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