CPC City Pub Group Plc (the)

RNS Number:3909A
Capcon Holdings PLC
24 March 2006


Capcon Holdings PLC
24 March 2006

Capcon Holdings plc

("Capcon" or the "Company" or the "Group")
EGM update

The Board of Capcon announced on 3 March 2006 the convening of an Extraordinary
General Meeting ("EGM")to consider the refinancing of Capcon by certain
directors and shareholders or, in the alternative, the sale of the business,
assets and certain liabilities of the Audit and Stocktaking and the Commercial
Investigations Divisions of the Capcon group (the "Audit and Investigations
Businesses") to a company in which the executive directors of the Company are
interested (the "Disposal").

The Board has noted recent comments and actions by Christie Group plc, a direct
competitor to Capcon in a number of business areas. The Board has decided, in
light of these, not to propose Resolution 5 at the EGM, the resolution
authorising the Disposal.

The Directors reiterate their recommendation that shareholders vote in favour of
Resolutions 1, 2, and 4 to be proposed at the EGM to enable the constitution and
issue of the Convertible Loan Stock and the subscription for the Convertible
Loan Stock by the Directors and certain shareholders of the Company. The
Directors believe that the refinancing and hence the continued independence of
the Company's businesses is in the best interest of all shareholders.

However, should shareholders not pass Resolutions 1 to 4, which enable Capcon to
effect the refinancing, the Board will consider other options that they believe
to be in the best interests of all shareholders.



Capcon Holdings plc

Paul Jackson

Tel: 0870 067 5050

Insinger de Beaufort

Louis Castro

Tel: 020 7190 7000


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

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