PMS Palmaris Cap.

RNS Number:4826R
Palmaris Capital PLC
19 February 2007

19 February 2007



               Palmaris Capital Plc ("Palmaris" or the "Company")



                                 Results of EGM



The Board of Palmaris announces that at the extraordinary general meeting 
("EGM") of the Company, held today at 11.00 a.m., all the resolutions proposed 
in the EGM Circular were passed.



Following the EGM, an aggregate of 25,588,800 fully paid ordinary shares of 5p
each in the share capital of the Company, representing 19.6% of the Company's
current issued share capital, will be issued to Waverton Holdings Limited
(12,715,200 shares) and Patersons Quarries Limited (12,873,600 shares) in
exchange for their warrants.  Application has been made for these shares to be
admitted for trading on AIM and it is expected that the shares will be admitted
at 8.00 a.m. on 23 February 2007.



Following the issue of shares, Waverton Holdings Limited will be interested in
54,058,040 ordinary shares of 5p each in the share capital of the Company,
representing 34.7% of the issued share capital of the Company, and Patersons
Quarries Limited will be interested in 53,265,972 ordinary shares of 5p each in
the share capital of the Company, representing 34.2% of the issued share capital
of the Company.



There are no shares held in treasury and so the total number of voting rights in
the Company following the issue of shares will be 155,933,304.  This figure may
be used by shareholders from 23 February 2007 as the denominator for the
calculations by which they will determine whether they are required to notify
their interest, or change to their interest, in Palmaris, under the Disclosure
and Transparency Rules.



The exchange of the warrants for 25,588,800 ordinary shares (the "Exchange"),
referred to above, to Waverton Holdings Limited and Patersons Quarries Limited
is a related party transaction under rule 13 of the rules for AIM companies
published by the London Stock Exchange Plc.  With the exception of G.Melgaard,
W.Paterson and J.Richardson, who were not considered to be independent directors
with respect to the Exchange, the Palmaris independent directors consider,
having consulted with the Company's nominated adviser, that the terms of the
issue of shares are fair and reasonable insofar as Palmaris' shareholders are
concerned.



Shareholders are reminded that, if they wish to receive the cash alternative to
the proposed dividend in specie of Palmaris' holding in Perseverance, they
should complete the Cash Election box of the blue Election Form that accompanied
the EGM Circular and return the Election Form to Capita Registrars using the
enclosed reply paid envelope, or by post, to Capita Registrars, The Registry, 34
Beckenham Road, Beckenham, Kent, BR3 4TU as soon as possible but, in any event,
so as to arrive no later than 4.30 p.m. on 21 February 2007.







For further information please contact:



Greg Melgaard, Managing Director                          07799 657 553

Alasdair Robinson, Noble & Company Limited                0131 225 9677





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

EGMTLMTTMMABBBR

Palmaris Capital (LSE:PMS)
Graphique Historique de l'Action
De Mai 2024 à Mai 2024

Palmaris Capital (LSE:PMS)
Graphique Historique de l'Action
De Mai 2023 à Mai 2024