Mercury Recycling Group PLC
17 May 2001
Mercury Recycling Group PLC ('Mercury'), formerly Argon Group PLC, announces
that, at the Extraordinary General Meeting of Mercury held on 3 May 2001, all
resolutions were duly passed. The resolutions required the approval of
shareholders to the acquisition of Mercury Recycling Limited, the waiver of
obligations under Rule 9 of the City Code on Takeovers and Mergers, the sale
of Mercury's subsidiary, Teninarow Limited, to a related party, to consolidate
every ten ordinary 1p shares in Mercury into 1 ordinary 10p share in Mercury,
to make an amendment to the Articles of Association and to change the name of
the Company from Argon Group PLC to Mercury Recycling Group PLC.
Following the Extraordinary General Meeting, Mercury issued a notice to all
holders of warrants to subscribe for Mercury shares calling on them to
exercise their warrants.
As a result of the approval of the resolutions at the Extraordinary General
Meeting, and on the basis that the warrants are exercised (together 'the
Proposals'), the interest of the Concert Party, comprising the vendors of
Mercury Recycling Limited, in Mercury's shares is 14,500,000 shares,
representing approximately 57.96 per cent. of the enlarged share capital of
Mercury immediately following completion of the Proposals.
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