Business
Result of EGM/Cancellation of
Result of EGM/Cancellation of.
About this update from Kendrick Resources Plc
[{"type":"text","content":"\n RNS Number : 7233Z Kenetics Group Limited 19 January 2011 \n \n\nKenetics Group PLC\n(\"Kenetics\", the \"Company\" or the \"Group\")\nResult of EGM / Cancellation of Admission to Trading on AIM / Unsolicited Approach\n \nFurther to the Company's announcement on 22 December 2010 and the circular sent to shareholders, the Company announces that at its extraordinary general meeting (\"EGM\") held yesterday at the offices of Stephenson Harwood, One St. Paul's Churchyard, London, EC4M 8SH, shareholders of the Company (\"Shareholders\") approved the cancellation of the admission of the Company's ordinary fully paid shares (the \"Shares\") to trading on the AIM market (\"AIM\") (the \"Cancellation\"). 79% of Ordinary Shares were voted in favour of the resolutions. The Cancellation will be effective on and from 28 January 2011 and trading in the Company's shares on AIM will cease at the close of business on 28 January 2011.\nThe Board intends to set up a matched bargain arrangement, provided by SVS Securities, to enable Shareholders to trade the Ordinary Shares. Under this facility, it is intended that Shareholders or persons wishing to trade Ordinary Shares will be able to leave an indication with SVS Securities that they are prepared to buy or sell at an agreed price. In the event that the matched bargain settlement facility is able to match that indication with an opposite sell or buy instruction, SVS Securities will contact both parties to effect the bargain. Shareholders who do not have their own broker may need to register with SVS Securities as a new client. This can take some time to process and therefore Shareholders who consider they are likely to use this facility are encouraged to commence it at the earliest opportunity. Once the facility has been arranged, details will be made available to Shareholders on the Company's website at\nwww.kenetics-group.com.\nWithin the last three days the Board has received an unsolicited approach from a third party for the possible sale of part of the Group which the Board believes is unlikely to result in an offer that would be in the best interests of all the shareholders.\n \n-ends-\n \n\n\n\n\nFor further information, please contact:\n \n\n\n \n\n\n \n\n\n\n\nKen Wong, Chairman and CEO\n\n\nDomin...