Bglobal PLC Irrevocable Undertaking (2479J)

TIDMBGBL

RNS Number : 2479J

Bglobal PLC

10 June 2014

Bglobal plc

('Bglobal', the 'Group' or the 'Company')

Irrevocable Undertaking

Further to the announcement made on 2 June 2014 relating to the proposed disposal of Utiligroup Limited, Bglobal is pleased to announce that it has received an irrevocable undertaking from Peter Kennedy, the Company's largest shareholder, to vote in favour of the resolution to implement the disposal of Utiligroup Limited to be proposed at the general meeting of the Company on 18 June 2014.

Peter Kennedy's irrevocable undertaking is in respect of 25,150,814 ordinary shares in the Company representing 23.66 per cent of the issued share capital of the Company.

Following the receipt of this irrevocable undertaking, Bglobal has received irrevocable undertakings to vote in favour of the resolution at the general meeting from Directors and certain other shareholders in respect of their shareholdings, amounting in aggregate to 47,987,184 ordinary shares representing 45.14 per cent of the issued share capital of the Company.

The general meeting to approve the disposal of Utiligroup Limited will be held at the offices of Travers Smith LLP, 10 Snow Hill, London EC1A 2AL at 10.00 a.m. on 18 June 2014.

- Ends-

For further information, please contact:

 
John Grant, Chairman  Mark Taylor                  Rebecca Sanders-Hewett 
 Tim Jackson-Smith,    Charles Stanley Securities   Dwight Burden 
 CEO                   Nominated Adviser and        David Ison 
 Bglobal plc           Broker                       Redleaf Polhill 
 Tel: 01254 819 600    Tel: 020 7149 6000           Tel: 020 7382 4730

This information is provided by RNS

The company news service from the London Stock Exchange

END

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