Voss Net PLC
04 December 2003
4 December 2003
Voss Net plc (the 'Company')
Extraordinary General Meeting/Result of Creditors' Voluntary Arrangement
The following letter has been sent to shareholders today:
Following the Annual General Meeting and Extraordinary General Meeting of the
Company held on 24 November 2003 your new Board has considered the Resolutions
passed at those meeting in respect of the capital reorganisation of the Company.
The Board believes that it is in shareholders' interest that the share price
is equivalent or nearly equivalent to the current share price following the
reorganisation. If the Resolutions are effected on 22 December 2003 as
previously announced the share price pro rata as of today would be in the order
of £2.50 per share.
The New Resolutions simply subdivide the shares so that at today's price the
share price will then be following the implementation of the new Resolutions in
the order of 2.5 pence per share.
Further, the resolutions to be considered at the Extraordinary General Meeting
afford any shares issued pursuant to the Creditors' Voluntary Arrangement
approved by shareholders on 24 November 2003, the exercise of any warrants or
options which expire on 21 December 2003 and any other shares issued for any
other reason whatsoever up until the Extraordinary General Meeting on 30
December 2003 will be 1p, first consolidated into ordinary shares of £1, then
subdivided into 1p ordinary shares and 99p deferred ordinary shares on the same
basis as set out in resolution 5 passed on 24 November 2003.
Creditors under the Creditors' Voluntary Arrangement who may be satisfied by the
issue of ordinary shares at 1p amount to some £130,000 being some 13 million new
ordinary shares of 1p each in their current form.
Leo Knifton. (Chairman)'
The Extraordinary General Meeting will be held at the offices of Alfred Henry
Corporate Finance Limited, 5-7 Cranwood Street, London EC1V 9EE at 10.00 am on
30 December 2003.
The Company's registered office has been changed to 5-7 Cranwood Street, London
A copy of the letter to shareholders and Notice of the Extraordinary General
Meeting are available to the public, free of charge, for one month from today at
the Company's registered office.
This information is provided by RNS
The company news service from the London Stock Exchange