Result of AGM and Resignation of Director (4929G)

TIDMDBAY

RNS Number : 4929G

Douglasbay Capital PLC

12 May 2011

DOUGLASBAY CAPITAL PLC (the "Company")

Result of Annual General Meeting and Resignation of Director

The Company announces that all resolutions proposed to shareholders at the Company's Annual General Meeting held at 4(th) Floor, Derby House, 64 Athol Street, Douglas, Isle of Man, 1M1 1JD on 12 May 2011 were duly passed.

Certain amendments have accordingly been made to the Company's Articles of Association and the revised articles can be found on the Company's website www.douglasbaycap.com

All conditions relating to the Tender Offer have now been completed and cheques will be posted (and assured payment obligations for dematerialised stock will be created) on 17 May 2011.

Following the Tender Offer the directors have the following interests in Ordinary Shares:

 
                            Number of Ordinary 
     Director                     Shares owned       % of issued share capital 
---------------------  -----------------------  ------------------------------ 
     Mr A Paiusco                   11,370,710       6.81 
---------------------  -----------------------  ------------------------------ 
     Mr G Bicknell                   4,347,675       2.60 
---------------------  -----------------------  ------------------------------ 
     Mr M Haxby                      1,828,445       1.09 
---------------------  -----------------------  ------------------------------ 
     Mr H Lehtonen                           0       0 
---------------------  -----------------------  ------------------------------ 
     Mr D Panter                       416,659       0.25 
---------------------  -----------------------  ------------------------------ 
     Mr D Blackler                     328,659       0.20 
---------------------  -----------------------  ------------------------------ 
     Mr A Boyd                           7,700       0.005 
---------------------  -----------------------  ------------------------------ 
     Mr A Collins                            0       0 
---------------------  -----------------------  ------------------------------ 
     Mr C Kingsnorth                         0       0 
---------------------  -----------------------  ------------------------------

Resignation of Director

David Blackler (aged 81), tendered his resignation this morning as he would like to reduce his involvement in quoted companies.

Alex Paiusco, Chief Executive stated that the Company and the Board is grateful for the wise counsel and support that David provided since IPO and wish him all the best for the future.

For further information please contact:

 
     DouglasBay Capital plc              Peel Hunt LLP (Nominated Adviser 
                                          & Broker) 
     Alex Paiusco, Chief Executive       Guy Wiehahn / Emma Riza 
     Tel: 01624 690900                   Tel: 020 7418 8893

This information is provided by RNS

The company news service from the London Stock Exchange

END

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