Result of General Meeting


 

TIDMMVW 
 
RNS Number : 0543K 
Mavinwood PLC 
13 April 2010 
 

                                                                   12 April 2010 
 
                                  Mavinwood plc 
 
                         ("Mavinwood" or the "Company") 
 
                            Result of General Meeting 
 
The Board of Mavinwood announces that at its General Meeting held on 12 April 
2010, all resolutions were duly passed. Accordingly, the placing of 
1,066,666,666 ordinary shares of 0.1 pence each in the Company (the "Placing") 
with Geraldton Services Inc ("Geraldton") is now unconditional. The proceeds of 
the Placing of GBP8 million (before expenses of GBP40,000) will be used to pay 
down the debt owed by the Company to Geraldton. After such payment the Company 
will owe Geraldton approximately GBP2.3 million. 
 
Application has been made for 1,066,666,666 ordinary shares to be admitted to 
trading on AIM, which is expected to commence on 16 April 2010 ("Admission"). 
 
Following Admission, the issued share capital of the Company will comprise 
1,532,937,811 Ordinary Shares, of which Geraldton will own up to 1,333,102,919 
Ordinary Shares representing 86.96 per cent. of the issued share capital. 
 
For further information, please contact: 
 
+----------------------------------------+--------------------+ 
| Mavinwood                              |                    | 
+----------------------------------------+--------------------+ 
| Charles Skinner, Chief Executive       | Tel: 07966 234 075 | 
+----------------------------------------+--------------------+ 
|                                        |                    | 
| Cenkos Securities                      |                    | 
+----------------------------------------+--------------------+ 
| Nicholas Wells / Beth McKiernan        | Tel: 020 7397 8900 | 
+----------------------------------------+--------------------+ 
|                                        |                    | 
| Threadneedle Communications            |                    | 
+----------------------------------------+--------------------+ 
| John Coles                             | Tel: 020 7653 9848 | 
+----------------------------------------+--------------------+ 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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