Intention to Delist

 

TIDMOPD 
 
RNS Number : 1722L 
OPD Group PLC 
30 April 2010 
 

For immediate release 
30 April 2010 
                     OPD Group PLC ("OPD" or the "Company") 
 Proposal to cancel the admission of the shares of OPD to the Official List and 
     to trading on the London Stock Exchange's market for listed securities 
                            ("Delisting" or "Delist") 
  Proposal has the support of holders of approximately 93.5 per cent of the OPD 
                                     shares 
OPD was notified on 29 April 2010 of the disposal by funds managed by Schroders 
plc of their entire shareholding in the Company to a party related to Offerco 
Limited. 
The Board believes that the percentage of the Company's shares in public hands 
is currently only 6.5 per cent and that Offerco Limited and associated parties 
hold the remaining shares in the Company. 
As set out in an announcement of 17 December 2009 and in the preliminary results 
announcement of 23 April 2010 the Board has been exploring various measures with 
its major shareholders to rectify the position including selling shares to put 
more shares in public hands, transferring to AIM or Delisting. 
Following the disposal of shares announced today the Board has determined that 
the only measure for which there is the requisite shareholder support is to 
proceed with Delisting. 
A circular setting out the background to and reasons for the Delisting, why the 
Board believes it to be in the best interests of shareholders as a whole, its 
recommendation to shareholders to vote in favour of the proposal to Delist and 
the implications of Delisting will be sent to shareholders, with a proxy card 
and notice of meeting in due course. 
The resolution to Delist will require a 75 percent majority from shareholders 
voting in person or by proxy to be approved.  Shareholders with a combined 
holding of approximately 93.5 per cent of the shares of the Company have 
confirmed that it is their current intention to vote in favour of the 
resolution. 
Ian Moss, OPD Finance Director     Tel: [phone] 
 Gary Clarence, Investec                   Tel: [phone] 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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