Result of EGM

RNS Number:7018L
Roeford Properties PLC
14 January 2008


Roeford Properties Plc ("Roeford" or the "Company")


14 January 2008


Result of EGM

Further to the announcement on 20 December 2007, the Board is pleased to
announce that all of the resolutions proposed at today's EGM, including the
Waiver Resolution, were duly passed.

The Subscription has raised approximately £391,833 before expenses and will, in
part, provide additional funding for the ongoing working capital requirements of
the Group and will permit the Company to consider and potentially exploit
further property development opportunities.

Under the Subscription Agreement, the Ryans agreed to subscribe approximately
£363,333 and Corvus agreed to subscribe £28,500. In addition, Corvus agreed to
pay the Company a fee of up to £156,500 in respect of property related advisory
services provided to it by the Company and also entered into the Corvus
Indemnity under which it agreed to settle all other residual liabilities of the
Company including professional fees relating to the Subscription (excluding
those relating to the Concert Party which the members of the Concert Party will
be paying for personally). As a result, the Subscription proceeds together with
the results of trading since 21 January 2007 are expected to increase net assets
to approximately £363,333.

On Completion, the Concert Party will own, in aggregate, 155,000,000 Ordinary
Shares, representing 79.54 per cent. of the Enlarged Share Capital, and Corvus
will own, in aggregate, 20,000,000 Ordinary Shares, representing 10.26 per cent.
of the Enlarged Share Capital.

Application has been made for the 156,733,334 new Ordinary Shares to be admitted
to trading on AIM and Completion and Admission of the Subscription Shares is
expected to occur on 15 January 2008.

With effect from Completion, Alison Rankin and Robin Assael will resign from the
Board and Michael Hirschfield will remain as a Non-Executive Director. In
addition, Mark Grady and Maggie Ryan will be appointed to the Board. Kitwell
Consultants Limited, the Company's secretary, will also resign upon Completion
and Brian William Hunt will be appointed in its place.

All definitions in this announcement bear the same meaning as those set out in
the Circular, unless otherwise stated.


Further enquiries:

Roeford Properties Plc
Mike Hirschfield, Non-Executive Director               0870 950 0995
www.roefordproperties.com

W.H. Ireland Limited                                   0121 265 6330
Tim Cofman-Nicoresti/Katy Birkin



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

REGUSVARWARAAAR