MIC Micap

RNS Number:1217G
MICAP PLC
22 October 2007


For Release                                                      22 October 2007



                               Micap plc (MIC.L)
                           ("Micap" or "the Company")

                                 Result of AGM

At the AGM of Micap plc, the AIM-quoted developer and producer of value added
microencapsulated ingredients to industry, which took place this morning, all
ordinary and special resolutions were passed.


This allows the Company to complete the fundraising announced on 28th September
2007, which amounts to #900,000, net of expenses.


The net proceeds of the Placing will be used to establish an infrastructure for
direct sales, support capital investment in production plant and provide
additional working capital for the Company in its intended move from its
previous business model of providing technical services and support for its
business partners, to a more commercial, sales driven model, which would enable
Micap to capitalise on the latent opportunities within the business much more
quickly.


Micap plans to put in place an infrastructure which enables it to obtain maximum
value from its direct sales opportunities, whilst at the same time continuing to
attract blue chip clients to work with its licensing and development team, as
the latter's reputation for effective solutions grows.


Initially, Micap is launching its range of yeast encapsulated products into the
savoury food market, with the aim ultimately of converting more of its
development projects into direct sales opportunities.




At the meeting, Michael Norris, Chief Executive of Micap, made the following
statement:


"The passing of the resolutions means that we can now focus on transforming
Micap into a true direct sales business. We have put a great degree of effort
and planning into our 'Micap Ingredients' range of yeast encapsulated savoury
flavours, and I am looking forward to launching the range at the upcoming Food
Ingredients (Europe) exhibition at Excel, London from 30th October to 1st
November 2007. If any shareholders would like to visit us at the event, they can
register for free at www.fi-events.com and we would be delighted to see you
there".



ENDS


Contact:

Micap plc                                     Tel: 01942 625590
Michael Norris, CEO                           Mob: 07966 341802

Adventis Financial PR                         Tel: 020 7034 4758 / 020 7034 4759
Tarquin Edwards                               Mob: 07879 458 364
Chris Steele                                  Mob: 07979 604 687

HB Corporate                                  Tel: 020 7510 8600
Jim McGeever
Rory Creedon








                      This information is provided by RNS
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