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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Proventec | LSE:PROV | London | Ordinary Share | GB00B2R1Q018 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMPROV
RNS Number : 6733W
Proventec PLC
23 November 2010
Press Release 23 November 2010
Proventec plc
("Proventec" or the "Company")
Result of Court Meeting and General Meeting
The Board of Proventec plc (AIM: PROV, Alternext: ALPTC) is pleased to announce that, at the Court Meeting held earlier today, the proposed Scheme of Arrangement (the "Scheme") was approved by the requisite majority of Note Holders. Details of the Scheme are set out in the circulars posted to Note Holders and Proventec Shareholders on 29 October 2010.
At the subsequent General Meeting of Proventec, also held earlier today, the resolutions to seek approval for the allotment of the New Ordinary Shares necessary to implement the Scheme, and the resolution to update the Company's articles of association, were passed by the requisite majorities. The resolutions are set out in the notice of the meeting contained in the circular to Shareholders.
It is intended that sanction of the Scheme by the Court will be sought on 6 December 2010 and it is expected the Scheme will become effective on 7 December 2010. A further announcement will be made in due course.
The approvals from the Note Holders and Shareholders at today's meetings mark a major milestone towards the successful reconstruction of the Company's balance sheet, which, upon its conclusion, will see the Company emerge with a stable financial platform from which to drive forward its business streams. The Company would like to take this opportunity to thank all its stakeholders (including its customers, suppliers and employees) for their ongoing support during this process.
Results of the votes for all resolutions are available on the Company's website at www.proventecplc.com.
Unless the context otherwise requires, terms defined in the Circular have the same meaning in this announcement.
- Ends -
For further information, please contact:
Proventec plc David Chestnutt, Chief Executive Tel: + 44 (0) 151 706 0626 dchestnutt@proventecplc.com www.proventecplc.com Seymour Pierce Limited Nicola Marrin Tel: + 44 (0) 20 7107 8047 Corporate Finance www.seymourpierce.com
Media enquiries:
Abchurch Communications Henry Harrison-Topham / Simone Tel: +44 (0) 20 7398 7728 Elviss simone.elviss@abchurch-group.com www.abchurch-group.com
Notes to editors:
Proventec manages a complementary portfolio of integrated businesses that specialise in hygienic solutions. Headquartered in Liverpool, UK, the Company operates in global markets, pioneering developments within the healthcare, food manufacturing, hospitality industries, transportation, construction, and other sectors. Companies in Proventec's portfolio include:
Company Business area Employees The world's leading provider of low pressure, chemical-free, specialist dry OspreyDeepClean saturated steam cleaning technology. 34 Provider of general cleaning products Contico Manufacturing and janitorial equipment and supplies. 45 Manufacturer and distributer of automated cleaning systems and products including portable high pressure washers, self-service Frank vehicle wash stations and dry steamers. 22
Proventec Healthcare provides innovative solutions for infection control and effective cleaning in the healthcare sector. The Company's specialist steam cleaning technology has been successfully proven in clinical trials with University College London Hospitals to rid all areas and combat the spread of micro-organisms, including 'superbugs' such as MRSA and Clostridium difficile. The Company, which employs a team of five, has developed specialist, patented tooling, which has been designed to be used within hospitals on a daily basis and enable the user to clean difficult to reach areas including mattresses, bed frames and curtains without the use of antimicrobial chemicals that may contribute to microbial resistance.
The Company joined the AIM Market in June 2002 and was dual listed on Alternext in May 2008. For further information please visit www.proventecplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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