(BCP.L) Boundary Capital PLC Buy/Sell

RNS Number : 5014B Veris PLC 28 October 2009

VERIS plc

DISPOSAL OF property Management and Facilities management divisions

Result of extraordinary general meeting

Veris plc ("Veris") announced on 1 October 2009 that it had agreed to sell its Property Management and Facilities Management Business to Aramark Ireland Limited and Aramark Investment Limited for a Consideration of approximately EUR50.8 million in cash.

Disposal Resolution

The Disposal constitutes a "substantial transaction" under Rule 12 of the AIM Rules and the IEX Rules and also a "disposal resulting in a fundamental change of business" under Rule 15 of the AIM Rules and IEX Rules. Accordingly, completion of the Disposal is conditional, inter alia, on approval by Shareholders at a general meeting of the Company.

At the extraordinary general meeting which was held this morning, the Disposal resolution, which was an ordinary resolution, was approved by shareholders with votes cast as follows:

Votes Cast Percentage of Votes Cast
In Favour 15,604,424 95.6%
Against 315,250 1.9%
Withheld 411,000 2.5%

Completion is now expected to take place on 30 October. A further announcement will be made in due course.

Cancellation of Trading Resolution

The Board has determined that it is in the best interests of shareholders as a whole to return the net proceeds of the Disposal (after repaying the Anglo Irish Bank facility and covering professional and closure costs) to Shareholders as efficiently and expediently as possible. The Company will effectively be a cash shell following Completion as it will have disposed of its operating business. The Board believes that it will be appropriate at that juncture to cancel the trading of the Ordinary Shares on IEX and AIM.

Accordingly, shareholders were asked to consider and if thought fit pass a resolution to enable the Directors apply to IEX and AIM for the cancellation of trading of the Company's shares on the Irish Stock Exchange and the London Stock Exchange respectively following Completion. This resolution, which was a special resolution, was approved by shareholders with votes cast as follows:

Votes Cast Percentage of Votes Cast
In Favour 15,254,424 93.4%
Against 665,250 4.1%
Withheld 411,000 2.5%

A further announcement will be made concerning cancellation of trading on IEX and AIM in due course.

For further information please contact:

Veris plc
Niall McFadden, Executive Chairman Tel: + 44 203 170 5770

Davy Corporate Finance
Des Carville Tel: + 353 1 679 6363

JJ Cahill Q4 Public Relations
Gerry O'Sullivan Mobile: + 353 87 259 7644
Nuala Buttner Mobile: + 353 85 174 4275

Terms used but not defined in this announcement shall have the meanings given to them in the announcement dated 1 October 2009 issued by the Company.

28 October 2009

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

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