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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Petards Group Plc | LSE:PEG | London | Ordinary Share | GB00B4YL8F73 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 7.50 | 7.00 | 8.00 | 7.50 | 7.50 | 7.50 | 25 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Security Systems Service | 9.42M | -1.05M | -0.0173 | -4.34 | 4.55M |
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RNS Number : 2087O
Petards Group PLC
24 June 2010
24 June 2010
Petards Group plc
("Petards" or "the Group")
AGM, Trading Update and Result of General Meeting
Petards, the AIM quoted developer of advanced security and surveillance systems,
announces that all resolutions at its AGM, and Resolution 2 proposed at the
General Meeting held today, were duly passed. However, Resolutions 1 and 3
proposed at the General Meeting in relation to the Capital Reorganisation and
the disapplication of statutory pre-emption rights pursuant to s570 of the
Companies Act 2006 were not passed were not passed as the Company's major
shareholder, Water Hall Group plc, voted against them. As a result the Capital
Reorganisation, details of which were set out in a circular to shareholders
dated 19 May 2010, will not be proceeding.
The Board intends to explore the reasons why Resolutions 1 and 3 proposed at the
General Meeting did not receive the support of Water Hall Group plc at this
time.
At the Annual General Meeting the following statement on trading was made by
Petards Chairman, Tim Wightman:
"While the current economic conditions are challenging for all companies, our
overall pipeline of sales opportunities remains robust. Although current
revenues are being affected, margins are better than anticipated. As in previous
years revenues are expected to be weighted towards the second half of the year.
Despite the uncertainty relating to the outcome of the UK government's public
spending review the anticipated results for 2010 remain in line with the Board's
expectations.".
For further information:
+-----------------------------------+-----------------------------------+
| Petards Group plc | www.petards.com |
+-----------------------------------+-----------------------------------+
| Andy Wonnacott, Finance Director | +44 (0) 191 420 3000 |
+-----------------------------------+-----------------------------------+
| | |
+-----------------------------------+-----------------------------------+
| WH Ireland Limited | www.wh-ireland.co.uk |
+-----------------------------------+-----------------------------------+
| Mike Coe / Marc Davies | +44 (0) 117 945 3470 |
+-----------------------------------+-----------------------------------+
| | |
+-----------------------------------+-----------------------------------+
| Walbrook PR Limited | www.walbrookpr.com |
+-----------------------------------+-----------------------------------+
| Paul McManus | Tel: +44 (0) 20 7933 8787 |
+-----------------------------------+-----------------------------------+
| paul.mcmanus@walbrookpr.com | Mob: +44 (0) 7980 541 893 |
+-----------------------------------+-----------------------------------+
| Ben Knowles | Tel: +44 (0) 20 7933 8788 |
+-----------------------------------+-----------------------------------+
| ben.knowles@walbrookpr.com | Mob: +44 (0) 7900 346 978 |
+-----------------------------------+-----------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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