EGM Statement

29 Jun 2005 11:36

Mavinwood PLC29 June 2005 Mavinwood Plc ("Mavinwood" or "the Company") Result of EGM and Placing The Board of Mavinwood announces that its proposal to acquire Ansa HoldingsLimited ("Ansa"), a market leader in the insurance claims management sector,offering drainage services to a wide range of UK insurance companies, wasapproved by shareholders at the Company's EGM this morning. The acquisition,which the Company expects to complete this afternoon, constitutes a reversetakeover under the AIM Rules. The Company also announces that it intends, in connection with the acquisition,to issue 250,000,000 New Ordinary Shares at 8p per share, raising £20,000,000(before expenses). Application will be made, following completion, for the Company's enlarged share capital of 332,896,474 ordinary shares, to be readmitted to trading on AIM tomorrow. All of the other resolutions proposed at the EGM were also passed. Contacts: Kevin Mahoney, Chief Executive 020 7661 9650 Michael Vincent, Finance Director 020 7661 9651 John Coles, Weber Shandwick 020 7067 0749Louise Carpenter, Seymour Pierce Limited: 020 7107 8000 This information is provided by RNS The company news service from the London Stock Exchange