Petards Group FY Remains In Line With Board's Expectations

LONDON (Dow Jones)-- Petards Group Plc (PEG.LN), an AIM quoted developer of advanced security and surveillance systems, announced Thursday that despite the uncertainty relating to the outcome of the U.K. government's public spending review the anticipated results for 2010 remain in line with the Board's expectations. MAIN FACTS: -While the current economic conditions are challenging for all companies, its overall pipeline of sales opportunities remains robust. -Although current revenues are being affected, margins are better than anticipated. -As in previous years revenues are expected to be weighted towards the second half of the year. -Petards also announced that all resolutions at its AGM, and Resolution 2 proposed at the General Meeting held Thursday, were duly passed. -However, Resolutions 1 and 3 proposed at the General Meeting in relation to the Capital Reorganization and the disapplication of statutory pre-emption rights pursuant to s570 of the companies Act 2006 were not passed were not passed as the company's major shareholder, Water Hall Group Plc (WTH.LN), voted against them. -The Board intends to explore the reasons why Resolutions 1 and 3 proposed at the General Meeting did not receive the support of Water Hall Group plc at this time. -Shares at 1438 GMT stood at 0.73 pence. -By Zechariah Hemans, Dow Jones Newswires; 44-20-7842-9411; zechariah.hemans@dowjones.com (END) Dow Jones Newswires June 24, 2010 10:40 ET (14:40 GMT)