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Your Space PLC (YSP)

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Wednesday 10 February, 2010

Your Space PLC

Notice of General Meeting

RNS Number : 9444G
Your Space PLC
10 February 2010

Your Space plc ("Your Space" or "the Company")


Notice of General Meeting


Your Space announces that a general meeting of the Company will be held at 7 Water Street, Liverpool, L2 ORD at 10.00 am on 26 February 2010 in order for shareholders to consider and, if thought fit, approve certain resolutions included in a notice of general meeting which will be posted to shareholders today.


Following the Company's recent creditors' voluntary arrangement, which was approved by shareholders and creditors on 16 November 2009, the suspension of trading of the Company's shares on AIM  remains, pending publication of Your Space's financial statements and the clarification of the Company's financial position. It is the directors' intention to release the accounts for the year ended 31 March 2009 and interims to 30 September 2009 simultaneously by no later than 15 March 2010, and a full trading update will be given at this time. A resolution described further in the notice of general meeting gives the Company the flexibility to raise additional equity funds via a placing of new shares subject to market conditions at that time, should the resolutions be approved by shareholders.


In accordance with section 197 of the Companies Act 2006, shareholders are required and are being asked to approve loans which were made by the Company to each of Laurence Davis and Stephen Turton in January 2008 of £65,000 and £40,000 respectively both of whom were Directors of the Company at that time and remain so. These loans were made in order to enable Messrs Davis and Turton to exercise options over ordinary shares in Your Space and settle taxation liabilities. Details of these loans are included in the notice of general meeting. These loans are intended to be repaid in full during the coming 12 months.


In accordance with Rule 20 of the AIM Rules for Companies, a copy of the notice of general meeting has been made available on the Company's website;


For further information please contact:


Steve Turton, Director, Your Space plc                                                            0151 229 1700


Richard Hughes / Bobby Fletcher, Zeus Capital                                            0161 831 1512



This information is provided by RNS
The company news service from the London Stock Exchange