Results of General Meeting

RNS Number : 7969U

Bilby PLC

11 April 2016

 

Bilby Plc ("Bilby" or the "Group")

Result of General Meeting, completion of Placing to raise £5.0 million relating to the acquisitions of DCB and Spokemead

The Board of Bilby Plc is pleased to announce that, further to the announcement on 24 March, at the General Meeting held earlier today all resolutions proposed, as set out in the Notice of General Meeting circulated to shareholders, were duly passed.

The resolutions that were passed were to authorise the issue of the 4,237,288 new Ordinary Shares being issued pursuant to the Placing announced on 24 March 2016 and 847,458 Initial Consideration Shares to the vendors of DCB (Kent) Limited ("DCB") and Spokemead Maintenance Limited ("Spokemead"). The Placing provides Bilby with £5.0 million (gross), in addition to the debt facilities provided by HSBC Bank plc, to fund the cash consideration for the acquisitions of DCB and Spokemead (the "Acquisitions").

Accordingly, application has been made for 4,237,288 Placing Shares and 847,458 Initial Consideration Shares to be admitted to trading on AIM.  It is expected that Admission will occur at 8.00 a.m. on 12 April 2016 and that the Acquisitions will complete thereafter. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares in the Group.

Following Admission, Bilby's share capital will consist of 39,322,591 ordinary shares of 10 pence each. No shares are held in treasury. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, or a change to their interest in Bilby, under the Disclosure and Transparency Rules.

Enquiries

Bilby Plc                                                                                                                                                      020 8269 3777

Phil Copolo, Executive Deputy Chairman

David Ellingham, Managing and Business Development Director

Katherine O'Reilly, Finance Director

Panmure Gordon (UK) Limited                                                                                                         020 7886 2500

(Nominated Adviser and Broker)

Dominic Morley

Charles Leigh-Pemberton

James Greenwood

Hudson Sandler                                                                                                                                        020 7796 4133

(Financial PR)

Charlie Jack

Emily Dillon

 

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