EGM Result/Additional Listing
24 Avril 2006 - 5:21PM
UK Regulatory
RNS Number:8951B
Ardent Group PLC
24 April 2006
24 April 2006
Seniors Finance Plc ("the Company" formerly "Ardent Group Plc")
Admission to AIM and Change of Name
Seniors Finance Plc announces that at the Extraordinary General Meeting ("EGM")
of the Company, which took place earlier today, all the resolutions set out in
the admission document dated 31 March 2006 including those in relation to the:
(i) acquisition of the entire issued and to be issued share capital of
Shared Home Investment Plan Public Limited Company ("S.H.I.P.");
(ii) raising of #481,250 through the allotment and exercise of 6,875,000
ordinary shares pursuant to the terms of the Ardent warrant instrument;
(iii) allotment of up to an aggregate amount of 8,000,000 ordinary shares
pursuant to the terms of the S.H.I.P. warrant instrument;
(iv) name of the Company to be changed to Seniors Finance Plc
were duly passed by shareholders. The enlarged issued share capital of the
Company will be admitted to trading on AIM at 8.00am on 25 April 2006.
The consideration for the acquisition of S.H.I.P. has been satisfied by the
issue of 73,333,333 ordinary shares in Ardent. Based on the mid-market price of
an Ardent share on 21 April, being the last day immediately prior to the EGM,
the consideration paid for S.H.I.P. is #11.0 million.
S.H.I.P. is a specialist provider of equity release products for senior citizens
in Ireland. Equity release is the generic term used to describe financial
products that allow homeowners to realise some of the ownership value in their
property.
The resolution relating to the change of name of the Company to Seniors Finance
Plc has been implemented in order to reflect its new activities. The Registrar
of Companies has issued the certificate of incorporation on change of name and
this change of name will become effective for London Stock Exchange purposes on
25 April 2006, at which time dealings in Seniors Finance Plc will commence on
AIM.
The Company's stock code will change from ARN to SEN with effect from 08.00 on
25 April 2006.
The number of ordinary shares in issue on admission will be 92,083,333.
For further information please contact:
Seniors Finance Plc:
Billy Kane, Chairman & Chief Executive +353 (0)1 664 9333
Rodger Sargent, Non-Executive Director 020 7399 4260
MRPA Kinman: +353 (0)1 703 8619
Ray Gordon +353 (0)87 241 7373
This information is provided by RNS
The company news service from the London Stock Exchange
END
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