Result of EGM
12 June 2009 - 8:42PM
UK Regulatory
TIDMXPT
RNS Number : 8179T
XploiTe PLC
12 June 2009
12 June 2009
Xploite plc
Result of EGM
At today's Extraordinary General Meeting of Xploite plc (AIM: XPT, 'the
Company'), the operator and aggregator of strategic and high growth IT services
businesses, the resolutions relating to the disposal by its subsidiary, Xploite
IHC, of Anix, its Managed Services Division, to ACS BPS, were passed. The
results were: Resoloution 1 - 15,856,779 votes were cast of which 99.7% were in
favour. Resolution 2 - 15,856,779 votes were cast of which 99.7% were in favour.
The disposal raises GBP31.5 million in cash, subject to a deduction for debt and
working capital, expected to be circa GBP3.1 million. The transaction is
scheduled to close later today.
The Group's strategy is to acquire, either through the issue of securities or
for cash, quoted and non-quoted companies operating in the UK Information
Communication Technology services sectors. The acquisition strategy is focused
on a limited number of "buy and build" opportunities, with the intention of
realising further value for shareholders through a future exit. Already numerous
opportunities have been identified.
Ian Smith, Xploite Chief Executive commented,
"Already we are well advanced in implementing our strategy to create further
shareholder value. We are in a strong position at this time of the economic
cycle to buy businesses at time when valuations are very attractive."
Enquiries:
+-------------------------------------------+-------------------------------------+
| Xploite plc | 0870 737 2001 |
+-------------------------------------------+-------------------------------------+
| Ian Smith, Chief Executive Officer | |
+-------------------------------------------+-------------------------------------+
| Robert Arrowsmith, Finance Director | |
+-------------------------------------------+-------------------------------------+
| | |
+-------------------------------------------+-------------------------------------+
| KBC Peel Hunt Ltd | 0207 418 8900 |
+-------------------------------------------+-------------------------------------+
| Richard Kauffer | |
+-------------------------------------------+-------------------------------------+
| | |
+-------------------------------------------+-------------------------------------+
| College Hill | 020 7457 2020 |
+-------------------------------------------+-------------------------------------+
| Adrian Duffield/Rozi Morris | |
+-------------------------------------------+-------------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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