CRX.L Regulatory News (CRX)

2 Apr 2007 17:22

Cyprotex PLC02 April 2007 2 April, 2007 Cyprotex Plc (the "Company" or "Cyprotex") Results of Extraordinary General Meeting of 2 April 2007 ("EGM") Earlier today Cyprotex PLC (the "Company") held an EGM to consider theresolutions contained in the notice to shareholders dated 6 March 2007 (the"Resolutions"). The purpose of the Resolutions was to remove the current board and to appointDr. David Leahy and Mr Robert Long (the "Requisitionists"), Dr. David Cavallaand Mr Mike McGoun (both directors of Peakdale Molecular Limited) as directorsin their place. A total of 88,236,048 votes out of a total available of 138,573,016 were cast;of which 76.48% voted against the Resolutions (representing 63.67% of theCompany) and 23.52% voted in favour of the Resolutions (representing 14.98% ofthe Company). Accordingly, the Resolutions were rejected by a large majorityand no changes to the board were made. The board is pleased to note that the actual support for them exceeded theprevious indications of support and note also that previously theRequisitionists had said that they had support from 30% of the Company. Mr Robert Morrison Atwater, chairman, commented: "My Board and I are very pleased that shareholders chose to adopt therecommendation to vote against all Resolutions proposed at today's extraordinarygeneral meeting. Defending your Company against the Requisitionists, however, has been costlyboth in terms of creating a major diversion of management time from theirday-to-day activity, and in terms of professional advisory and legal expenses.It would be wrong of me not to mention to you at this time, that these costswill be apparent in the first half 2007 results. Notwithstanding this, optimismwithin the Company has never been higher and, in my view, Cyprotex continues toadd considerable value to the pharmaceutical and biotech world, which I expectto be visible by the year end. Thank you for your support throughout this time." For further information: Cyprotex PLCRobert Morrison Atwater, CEOTel: +44 1625 505 100ir@cyprotex.comwww.cyprotex.com or Russell GibbsTel: +44 1625 505 100ir@cyprotex.comwww.cyprotex.com Media Enquires: WMC CommunicationsCharlie Geller/Alex GloverTel: +44 (0)20 7930 9030charlie.geller@wmccommunications.com This information is provided by RNS The company news service from the London Stock Exchange