OND Overnet Data

RNS Number:2702G
OverNet Data PLC
16 January 2003

OverNet Data plc

16 January 2003

Result of EGM


OverNet Data plc ('the Company') announces that all resolutions proposed at the
Extraordinary General Meeting ('EGM') of the Company, held earlier today, were
duly passed, including the resolution to re-organise the Company's issued share
capital and the issue of 1,182,733 new ordinary shares of 0.5p ("New Ordinary
Shares") to Monument Capital (LC) Limited ("Monument").


Additional Listing


As detailed in the Circular to shareholders dated 24 December 2002, the Company
has issued 1,182,733 New Ordinary Shares to Monument, representing approximately
29.9% of the enlarged share capital of the Company and 20 New Ordinary Shares at
5p per share to David Tilston to facilitate the repurchase for cancellation of
the Deferred Shares pursuant to the Capital Reorganisation. Following this issue
Mr Tilston will be interested in 11,916 New Ordinary Shares, representing
approximately 0.3% of the Company's enlarged issued ordinary share capital.


Accordingly, application has been made for the admission to trading on AIM of
the 1,182,753 New Ordinary Shares and dealings are expected to commence on 17
January 2003.


Capital Reorganisation


The record date will be the close of business on 16 January 2003 and the
re-organisation will be effective from 8.00 am on 17 January 2003. Shareholders
will receive one New Ordinary Share for every one ordinary share of 5p
('Existing Ordinary Shares') held at the record date. The number of New Ordinary
Shares held following the Capital Reorganisation will not be different to the
number of Existing Ordinary Shares held at the record date. Holders of shares in
certificated form will not be sent new share certificates and therefore existing
share certificates will continue to be valid. Holders of Existing Ordinary
Shares in electronic form will have their CREST accounts credited with the New
Ordinary Shares at opening of business on 17 January 2003.


Board Changes


Leo Knifton and Nigel Weller were today appointed to the board of the Company
and both James Laurence and Larry Rees stepped down as board directors. David
Tilston had previously indicated his intention to resign from the board with
James Laurence and Larry Rees; however he has agreed to continue to act as
Finance Director at the request of Messers. Knifton and Weller until further
notice.


Change of Registered Office


The Company's registered office will be located at 35A, Barfield Road, West
Mersea CO5 8QX.


Enquiries:

David Tilston, Finance Director                     0845 330 8706


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

REGEADFKFDPDEFE

Overnet Data (LSE:OND)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024

Overnet Data (LSE:OND)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024