Sarantel Group PLC
24 April 2008
24 April 2007
Sarantel Group plc
('Sarantel' or the 'Company')
Results of Meetings
Sarantel announces that at the annual general meeting and the general meeting of
the Company held earlier today, all resolutions were duly passed, including the
resolution to effect a capital reorganisation on the following basis:
(a) each of the issued A ordinary shares of 10p ('A Ordinary Share') will be
subdivided and redesignated into one new A ordinary share of 1p ('New A Ordinary
Share') and one deferred share of 9p each ('Deferred Share');
(b) each of the issued B ordinary shares of 10p ('B Ordinary Share') will be
subdivided and redesignated into one new B ordinary share of 1p ('New B Ordinary
Shares') and one Deferred Share;
(c) each of the authorised and unissued A Ordinary Shares will be subdivided
into 10 New A Ordinary Shares; and
(d) each of the authorised and unissued B Ordinary Shares be subdivided into 10
New B Ordinary Shares.
The necessary resolutions granting authorities to the Company to allot and
disapply pre-emption rights were passed, including those permitting the
authority to allot 114,500,800 New Ordinary A Shares, including 13,333,400 New
Ordinary A Shares allotted in accordance with the placing announced on 7 April
2008, and the placing as announced on 31 March 2008, to raise in aggregate £3.4
million.
Trading in the New A and B Ordinary Shares will take place in two tranches. The
first tranche of 101,332,891 New A Ordinary Shares and 1,036,340 New B Ordinary
Shares are expected to be admitted to trading on 25 April 2008. Following the
first admission of the New A Ordinary Shares and New B Ordinary Shares, Sarantel
will have 102,369,231 ordinary voting shares in issue.
The second tranche of 88,567,100 New A Ordinary Shares is expected to be
admitted to trading on 28 April 2008. Following the admission of the second
tranche of New A Ordinary Shares, Sarantel will have 190,936,331 ordinary voting
shares in issue.
Enquiries:
Sarantel
David Wither, Chief Executive Officer 01933 670 560
Sitkow Yeung, Finance Director
John East & Partners Limited 020 7628 2200
John East/Simon Clements
College Hill 020 7457 2020
Adrian Duffield/ Ben Way
Notes to Editors:
Sarantel (www.sarantel.com)
Sarantel is a leader in the design of high-performance miniature antennas for
portable wireless applications including hand-held navigation, satellite radio
and laptop computers.
Sarantel's revolutionary ceramic filtering antennas offer dramatically improved
performance over existing antenna designs, resulting in a clearer signal, better
range and a 90 per cent reduction in the amount of signal radiation absorbed by
the body. Because of their smaller size and higher capabilities, Sarantel's
antennas enable manufacturers to create innovative high-volume consumer products
incorporating technologies such as GPS, Wi-Fi, WiMax, 3G, GPRS, Satellite Radio
and Bluetooth.
This information is provided by RNS
The company news service from the London Stock Exchange