Result of General Meeting

RNS Number : 7790V

Restore PLC

08 November 2010

 



Restore plc                                                                 8 November 2010

("Restore" or "the company")

Result of General Meeting

The company is pleased to announce that at a General Meeting held today all resolutions were passed and the placing of 15,384,615 New Ordinary Shares to raise £4m (before expenses of £200,000) was approved. Admission of the new shares will take place on 9 November.

Following admission of the new ordinary shares, the enlarged share capital will comprise 46,043,372 Ordinary Shares and the shareholdings of the Directors will be as set out below.

                      Number of Ordinary   Percentage of the

 Director              Shares held          Issued Share Capital

 Sir William Wells    318,307              0.69

                     -------------------  ----------------------

 Charles Skinner      511,415              1.11

                     -------------------  ----------------------

 Andrew Wilson        46,461               0.10

                     -------------------  ----------------------

Charles Skinner, Chief Executive of Restore plc commented: "This placing completes the stabilisation of the company under the new management team introduced in June 2009. We now have a healthy balance sheet to enable us to take advantage of the significant growth opportunities available in the data management and broader support services sector. The placing also broadens the company's shareholder base which will be helpful for the company's longer-term development."

Editor's note: Restore plc is an AIM quoted company predominantly focused on developing and expanding a UK-based data handling business, based on its core document storage activities.

Enquiries to

Charles Skinner, Chief Executive

Restore plc                                                                                          Tel: [phone]

Nicholas Wells

Elizabeth Bowman                                                                              Tel: [phone]

Cenkos Securities plc, NOMAD and Broker

John Coles                                                                                           Tel: [phone]

Threadneedle Communications

 

END

 

 

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