Further re Proposed Disposal

 

TIDMVERI TIDMBCP 
 
RNS Number : 5014B 
Veris PLC 
28 October 2009 
 

VERIS plc 
 
 
DISPOSAL OF property Management and Facilities management divisions 
 
 
Result of extraordinary general meeting 
 
 
Veris plc ("Veris") announced on 1 October 2009 that it had agreed to sell 
its Property Management and Facilities Management Business to Aramark Ireland 
Limited and Aramark Investment Limited for a Consideration of approximately 
EUR50.8 million in cash. 
 
 
Disposal Resolution 
 
 
The Disposal constitutes a "substantial transaction" under Rule 12 of the AIM 
Rules and the IEX Rules and also a "disposal resulting in a fundamental change 
of business" under Rule 15 of the AIM Rules and IEX Rules. Accordingly, 
completion of the Disposal is conditional, inter alia, on approval by 
Shareholders at a general meeting of the Company. 
 
 
At the extraordinary general meeting which was held this morning, the Disposal 
resolution, which was an ordinary resolution, was approved by shareholders with 
votes cast as follows: 
 
 
+---------------------------+---------------------------+--------------------------+ 
|                           |        Votes Cast         |Percentage of Votes Cast  | 
+---------------------------+---------------------------+--------------------------+ 
| In Favour                 |        15,604,424         |          95.6%           | 
|                           |                           |                          | 
+---------------------------+---------------------------+--------------------------+ 
| Against                   |          315,250          |          1.9%            | 
|                           |                           |                          | 
+---------------------------+---------------------------+--------------------------+ 
| Withheld                  |          411,000          |          2.5%            | 
|                           |                           |                          | 
+---------------------------+---------------------------+--------------------------+ 
 
 
Completion is now expected to take place on 30 October. A further announcement 
will be made in due course. 
 
 
Cancellation of Trading Resolution 
 
 
The Board has determined that it is in the best interests of shareholders as a 
whole to return the net proceeds of the Disposal (after repaying the Anglo Irish 
Bank facility and covering professional and closure costs) to Shareholders as 
efficiently and expediently as possible.  The Company will effectively be a cash 
shell following Completion as it will have disposed of its operating business. 
The Board believes that it will be appropriate at that juncture to cancel the 
trading of the Ordinary Shares on IEX and AIM. 
 
 
Accordingly, shareholders were asked to consider and if thought fit pass a 
resolution to enable the Directors apply to IEX and AIM for the cancellation of 
trading of the Company's shares on the Irish Stock Exchange and the London Stock 
Exchange respectively following Completion. This resolution, which was a special 
resolution, was approved by shareholders with votes cast as follows: 
 
 
+---------------------------+---------------------------+--------------------------+ 
|                           |        Votes Cast         |Percentage of Votes Cast  | 
+---------------------------+---------------------------+--------------------------+ 
| In Favour                 |        15,254,424         |          93.4%           | 
|                           |                           |                          | 
+---------------------------+---------------------------+--------------------------+ 
| Against                   |          665,250          |          4.1%            | 
|                           |                           |                          | 
+---------------------------+---------------------------+--------------------------+ 
| Withheld                  |          411,000          |          2.5%            | 
|                           |                           |                          | 
+---------------------------+---------------------------+--------------------------+ 
 
 
A further announcement will be made concerning cancellation of trading on IEX 
and AIM in due course. 
 
 
 
 
For further information please contact: 
 
 
+------------------------------+------------+---------------------------+ 
| Veris plc                    |            |                           | 
+------------------------------+------------+---------------------------+ 
| Niall McFadden, Executive    | Tel:       | + 44 203 170 5770         | 
| Chairman                     |            |                           | 
+------------------------------+------------+---------------------------+ 
 
 
+------------------------------+------------+---------------------------+ 
| Davy Corporate Finance       |            |                           | 
+------------------------------+------------+---------------------------+ 
| Des Carville                 | Tel:       | + 353 1 679 6363          | 
+------------------------------+------------+---------------------------+ 
| JJ Cahill                    |            |                           | 
+------------------------------+------------+---------------------------+ 
 
+------------------------------+------------+---------------------------+ 
| Q4 Public Relations          |            |                           | 
+------------------------------+------------+---------------------------+ 
| Gerry O'Sullivan             | Mobile:    | + 353 87 259 7644         | 
+------------------------------+------------+---------------------------+ 
| Nuala Buttner                | Mobile:    | + 353 85 174 4275         | 
+------------------------------+------------+---------------------------+ 
 
 
 
 
Terms used but not defined in this announcement shall have the meanings given to 
them in the announcement dated 1 October 2009 issued by the Company. 
 
 
 
 
28 October 2009 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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