Business
Notice of EGM
Notice of EGM.
About this update from Tanfield Group Plc
[{"type":"text","content":"\n Tanfield Group PLC\n17 February 2006\n\n\nTanfield Group PLC\n\nEGM\n\nTanfield Group PLC ('Tanfield' or the 'Company') has convened an Extraordinary\nGeneral Meeting for 11.00 am on 13 March 2006 at which a Special Resolution will\nbe proposed to increase the Share Capital of the Company and give the directors\nauthority, within six months of the Extraordinary General Meeting, to allot up\nto 80,000,000 new Ordinary Shares ('the Resolution').\n\nShould the Resolution be passed by shareholders the Company intends to raise up\nto £12m (before expenses) through an institutional placing of new Ordinary\nShares (the 'Placing'). It is expected that the net proceeds of the Placing will\nbe utilised by the Directors in relation to certain acquisition opportunities\nthat they are currently considering.\n\nIt should be noted that the detailed terms of the Placing (including price) have\nnot yet been agreed and the Placing is subject, inter alia, to the passing of\nthe Resolution, the terms of the Placing Agreement being agreed, the Placing\nAgreement being entered into, and Admission.\n\nThere can be no certainty at this stage that the Placing will be effected. The\nPlacing will not be underwritten.\n\nA circular explaining why the Directors consider that the Proposal is in the\nbest interests of shareholders as a whole and recommending that they vote in\nfavour of the special resolution to be proposed at the Extraordinary General\nMeeting, was posted to shareholders yesterday.\n\nTanfield Group Plc\nRoy Stanley - Chairman 01207 521 111\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":1803,"tagName":"div"}]