Annual Report and Accounts and AGM Notice (5282W)

TIDMKSI

RNS Number : 5282W

Kleenair Systems International PLC

19 November 2010

KLEENAIR SYSTEMS INTERNATIONAL PLC

(AIM: KSI)

Annual Report and Accounts and AGM Notice

Kleenair Systems International Plc ("KSI" or "the Company") announces that the Annual Report and Accounts for the year ended 30 June 2010, Notice of AGM and Proxy Form have been posted to shareholders and are available from the Company's website (www.kleenair-systems.com).

The Annual General Meeting of the Company will be held at the at the offices of WH Ireland Limited, 24 Martin Lane, London EC4R 0DR on 13 December 2010 at 11am.

The Notice of AGM includes the following business:

Subdivision of the Ordinary and B Shares of the Company

The Directors feel that the subdivision of the Ordinary Shares of the Company will improve the liquidity and marketability of ordinary shares in the capital of the Company by reducing the market price of an ordinary share and increasing the number of shares in issue.

The scale of the subdivision of the Ordinary Shares will be at a ratio of ten shares for one. The Company has a number of B Ordinary Shares in issue which rank pari passu with the Ordinary Shares other than the right to vote (other than in certain circumstances). The holders of the B Ordinary Shares have the right to convert their B Ordinary Shares into Ordinary Shares. It has therefore been decided to subdivide the B Ordinary Shares in the same ratio.

The New Ordinary Shares of 0.1 pence and the New B Ordinary Shares of 0.1 pence each will have the same economic and legal rights and benefits attaching to them as the Existing Ordinary Shares and Existing B Ordinary Shares and Shareholders' rights will, therefore, be unaffected by the Subdivision.

Application will be made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM. Conditional on the appropriate resolution being passed, it is expected that Admission will become effective and dealings in the New Ordinary Shares will commence on 14 December 2010.

Resignation of Miles Lewis as a Director

The Company has received a letter of resignation from Miles Lewis dated 1 December 2010, stating his resignation as a non-executive director of the Company with effect from the date of the next general meeting. No compensation will be payable in relation to Mr. Lewis' vacation of office. The Board would like to thank Mr. Lewis for his contribution during his time with the Company and wishes him the best for the future.

All capitalised terms in this announcement are as defined in the Notice of AGM.

Finally, KSI announces that it has appointed Global Investment Strategy UK Limited as its joint broker with immediate effect.

 
 Contacts: 
 
 Kleenair Systems International 
  plc                                www.kleenair-systems.com 
 Sarah Pozner, Executive Director        +44 (0) 207 048 9400 
 
 Square1 Consulting 
 David Bick / Mark Longson               +44 (0) 207 929 5599 
 
 WH Ireland Limited                      www.wh-ireland.co.uk 
 JN Wakefield / Marc Davies              +44 (0) 117 945 3470 
 
 Global Investment Strategy UK 
  Limited 
 John Gunn                               +44 (0) 20 7048 9400

This information is provided by RNS

The company news service from the London Stock Exchange

END

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