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Medsea Estates Group - Notice of AGM

RNS Number : 2194B Medsea Estates Group PLC 13 August 2008 Medsea Estates Group PLC (the 'Company') Medsea Estates Group PLC announces that the Annual General Meeting will be held at the offices of the Company's solicitors, Dawsons LLP, 2 New Square, Lincoln's Inn, London WC2A 3RZ on Thursday 4th September 2008 at 11.00 am. The resolutions to be put before the meeting include resolutions to reduce the nominal value of the Ordinary shares from 10p to 1p in order to give the Company the flexibility to issue shares either to raise capital or to make acquisitions should the need or opportunity to do so arise. Under company law, the Company is unable to issue shares at an issue price below the nominal value of the Company's shares. The reduction in the nominal value is proposed to be effected by dividing each existing issued Ordinary share of 10p each into one new Ordinary share of 1p each and one Deferred share of 9p each. The rights attaching to the new Ordinary shares will be identical in all respects to those of the Ordinary Shares, save for the reduction in the nominal value. It is also proposed that the Deferred shares, which will have no effective value and no voting rights, will be cancelled subject to approval of the High Court. Existing share certificates will remain valid. Application will be made to the London Stock Exchange for the 77,979,412 new Ordinary shares of 1p each to be admitted to trading on AIM and such admission is expected to become effective on 5 September 2008. Subject to approval of the High Court, it is also proposed to effect the cancellation of the share premium account and to apply the reserve arising, together with the reserve arising on the cancellation of the Deferred shares, in eliminating substantially the whole of the deficit on the Company's merger reserve which amounted to #7,059,900 at 31 December 2007. Further details of the proposals are set out in a letter to shareholders which, together with the Notice of Meeting, has been sent to shareholders and posted on the Company's website (www.medseaestates-ir.com). For further information: Medsea Estates Group plc Tony Gatehouse, Chairman Tel: +34 96 570 40 02 Juan Carlos Rodriguez Martinez, Chief Executive HB Corporate Edward Hutton /Imran Ahmad Tel: +44 (0) 20 7510 8600 Media enquiries: Threadneedle Communications Alex White/Josh Royston Tel: +44 (0) 20 7653 9859 This information is provided by RNS The company news service from the London Stock Exchange END NOASFMSADSASEFA

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