Result of Meeting (1470V)

TIDMOPE

RNS Number : 1470V

Optare PLC

06 January 2012

6 January 2012

Optare plc

("Optare" or the "Company")

Result of General Meeting

The Board of Optare is pleased to announce that at the Company's General Meeting held earlier today all of the resolutions were duly passed, including, inter alia, the approval of the allotment of shares on a non pre-emptive basis of 1,483,146,334 new ordinary shares at a price of approximately 0.270 pence per share (the "Placing") and the sub-division of the Company's ordinary shares. Accordingly, each ordinary share of 1p each has been divided into 1 ordinary share of 0.1p each and 1 deferred share of 0.9p each.

Full details of the Placing and sub-division were set out in a circular sent to shareholders on 20 December 2011. Application has been made for the 1,483,146,334 new ordinary shares to be issued pursuant to the Placing and the 752,145,493 existing ordinary shares for which the nominal value has been changed to 0.1p, to be admitted to trading on AIM. No application will be made for the deferred shares to be admitted to AIM or any other exchange. Admission and dealing is expected to occur at 8.00 a.m. on 9 January 2012.

Shareholders' CREST accounts will be amended at close of business today to reflect the change in nominal value of the ordinary shares. For shareholders who hold their ordinary shares in certificated form, no new share certificates will be issued to reflect the change in nominal value of the ordinary shares. Existing share certificates will be valid and will continue to be accepted as evidence of title for the new ordinary shares of 0.1 pence each.

Following the admission of the ordinary shares on 9 January 2012 the Company's total issued share capital will be 2,235,291,827 ordinary shares of 0.1p each. This figure (2,235,291,827 ordinary shares) may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FSA's Disclosure and Transparency Rules.

For further information please contact:-

 
 Optare plc                      Tel: [phone] 
   Jim Sumner - Chief Executive    9901 
  Cenkos Securities plc        Tel: [phone] 
   Stephen Keys/Camilla Hume    8900 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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