EGM Statement

RNS Number : 6112P

Stem Cell Sciences plc

27 March 2009

 



27 March 2009

STEM CELL SCIENCES PLC

 ("SCS", or the "Company")

RESULT OF EXTRAORDINARY GENERAL MEETING

The Board is pleased to announce that at the Company's Extraordinary General Meeting ("EGM") held earlier today, all resolutions were duly approved by shareholders, present in person or by proxy, representing 99% of the issued and voting share capital.

The resolutions passed at the EGM were in relation to the disposal of the Trading Subsidiaries of the Company and certain ancillary agreements, assets, properties and rights (the "Disposal") to StemCells, Inc. (NASDAQ: STEM), as well as the subsequent cancellation of the Company's Ordinary Shares from admission to AIM and/or ASX (as the case may be) not later than the 26 June 2009 and the re-registration of the Company as a private company limited by shares following a change of the Company's name.

Given the affirmative vote of shareholders of the Company at the EGM, it is anticipated that the Disposal will complete, in accordance with the terms of the Disposal Agreement, as soon as the remaining customary pre-completion requirements are satisfied.  The Company shall issue a further announcement as soon as practicable following Completion.

Capitalised terms not otherwise defined in this announcement shall have the meaning used in the circular containing details of the Disposal, posted to shareholders of the Company on 3 March 2009 (the "Circular"). 

A copy of the Circular is available on the Company's website, www.stemcellsciences.com.

For further information, please contact:

Stem Cell Sciences plc (United Kingdom)

Alastair Riddell, CEO

Giorgio Reggiani, Chief Financial Officer

[phone]

Stem Cell Sciences (Australia) Pty Ltd 

Paul Bello, Operations Manager

[phone]

Citigate Dewe Rogerson (United Kingdom)
Mark Swallow / Amber Bielecka
[phone]

Talk Biotech (Australia)

Fay Weston, Director

[phone]

Daniel Stewart & Company (United Kingdom)

Simon Leathers / Oliver Rigby

[phone]

 

END

 

 

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