Results of EGM

RNS Number:4303J
Rapid Technology Group PLC
31 March 2003


Rapid Technology Group plc

31 March 2003

Results of Extraordinary General Meeting


Further to the circular dated 7 March, 2003 and the Extraordinary General
Meeting held today, the Board of Rapid Technology Group plc ('the Company') is
pleased to announce the passing of the following resolutions:


1.      Approval of the acquisition by Mr. Patrick McDonagh of shares in
the Company to the amount of, and in the circumstances, set out in the circular
to shareholders which may result in his shareholding exceeding 30 per cent in
those circumstances, and the consequent disapplication of the obligation which
would otherwise arise under Rule 9 of the Irish Takeover Rules for Mr. Patrick
McDonagh to make a general offer to shareholders of the Company as a result of
his holding of ordinary shares increasing above 30 per cent of the ordinary
share capital of the Company.

2.      Approval of the acquisition of the entire issued and to be issued
share capital of The Electric Paper Company Limited.

3.      Approval of the increase in the authorised share capital of the
Company, the amendment of the Memorandum of Association to reflect such
increase, the adoption of the proposed Articles of Association, the
authorisation by the directors to allot relevant securities, the disapplication
of the statutory pre-emption rights and the empowerment the directors to allot
equity securities in certain circumstances.

4.      Approval of the Screenkey Technology Agreement.

5.      Approval and adoption of the 2003 Share Option Plan.

6.      Approval of the change in the name of the Company to ThirdForce
plc and the amendment to the Memorandum and Articles of Association of the
Company to reflect such change.


The Company has also successfully placed 53,333,333 ordinary shares at Euro0.15c
each for a total amount of Euro8 million.

Mr. Patrick McDonagh subscribed for 34,863,335 ordinary shares bringing his
total holding from 6,232,330 ordinary shares to 41,095,665 ordinary shares
representing 31.66 per cent of the Company.  Further placees subscribed for
8,469,998 ordinary shares representing 6.53 per cent of the Company.  A number
of funds managed by Dolmen Securities Limited subscribed for 10,000,000 ordinary
shares bringing their total holding from 1,153,836 ordinary shares to 11,153,836
ordinary shares in the Company. Dolmen Securities Limited is majority owned by
the Munich Re Group.


For further information, please contact:


Brendan O'Sullivan
Chief Executive
353 1 235 0279


Conor McKeon
Dolmen Corporate Finance
353 1 633 3601



This announcement has been issued through the Companies Announcement Service of
                           the Irish Stock Exchange.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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