Panther Securities PLC
10 April 2000
Statement re. Requisition of EGM of Wynnstay Properties Plc
Panther Securities Plc, which holds approximately 29.8 per cent.
interest in Wynnstay Properties Plc ('Wynnstay'), announces that
it has requisitioned the directors of Wynnstay to convene an
Extraordinary General Meeting to consider the following:
- that the board of Wynnstay be instructed to arrange for
the sale of the entire property portfolio of the Wynnstay
Group by auction;
- that the board of Wynnstay be instructed to provide
shareholders with a detailed estimate of the amount that could
be paid to shareholders in the event of a liquidation of
Wynnstay;
- that Mr Andrew Perloff and Mr Peter Kellner be appointed
as directors of Wynnstay and that Mr Harris and Mr Nagle are
removed as directors; and
- that a committee of the directors, to include Mr Perloff
and Mr Kellner, be formed to investigate the purchase of a
company or companies with a view of changing the trading
business of Wynnstay to give better shareholder value.