Result of Meeting - correction (7357C)

TIDMPROP

RNS Number : 7357C

Property Recycling Group PLC

10 March 2011

The announcement issued at 12.15 on 9 March 2011 has incorrectly stated the percentage of proxy votes in favour of the resolution as 99.85 %. The correct percentage is 98.85%. All other details are correct. The full text of the amended announcement is set out below.

NOT FOR RELEASE PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

9 March 2011

Result of General Meeting

On 11 February 2011, the Company posted a circular (the "Circular") to shareholders regarding the cancellation of admission to trading of the Company's ordinary shares (the "Shares") on AIM (the "De-listing") and the arrangements being put into place to enable Shareholders to sell some or all of their Shares prior to the De-listing (the "Facility"). The Circular contains full details of the De-listing, the Facility and a notice of a general meeting convened for the purposes of approving the De-listing (the "General Meeting").

The Company announces that at a General Meeting held earlier today shareholders duly approved the resolution set out in the notice of General Meeting.

The proxy voting was as follows:

 
                         Number       % 
 Votes in favour:    29,391,750   98.85 
 Votes against          342,407    1.15 
 Votes withheld             nil       -

As set out in the Circular, the last day for dealings in the Shares on AIM is 24 March 2011 and it is expected that De-listing will become effective from 7.00 a.m. on 25 March 2011.

Minority Shareholders are reminded that they may sell their shares at a fixed price of 14.5p per Share to Paul Rackham Limited under the Facility described in the Circular. The Facility will be available until 24 March 2011. Details of the procedure to be followed by Shareholders who wish to utilise the Facility are set out in the Circular. Shareholders should note that following De-listing there will be no public market on which Shares can be sold or bought.

As at the close of business on 8 March 2011, Paul Rackham Limited had acquired a total of 447,813 Shares under the Facility. This takes the Rackham Family Interests to 29,709,313, representing 82.07 per cent. of the Shares in issue.

For further information please contact:

 
 Paul Rackham, Chairman, 
  Property Recycling Group plc               01953 717176 
 John Webb/Robert Luetchford 
  Marshall Securities Limited (Financial 
  adviser)                                  020 7490 3788 
 Geoff Nash 
  FinnCap (Nominated adviser)               020 7600 1658

This announcement has been issued by and is the sole responsibility of the Company.

The distribution of this announcement into jurisdictions other than the UK may be restricted by law. Persons into whose possession this announcement comes should inform themselves of and observe any such restrictions.

This announcement is for information purposes only and is not intended to and does not constitute or form any part of any offer or invitation to subscribe for, purchase or otherwise acquire any securities.

Neither the content of the Company's website (or any other website) nor the content of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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