Circ re. General Meeting

    RNS Number : 9966G
  Wallgate Group PLC
  30 October 2008
   

    Embargoed Release: 07:00hrs Thursday 30 October 2008

    Wallgate Group plc

    ("Wallgate" or the "Company")

    Revised Circular to convene a general meeting on 21 November 2008

    Further to Wallgate's announcement of 24 October 2008, regarding the Company's update on trading, financial position, short term funding
requirements and posting of a circular to convene a general meeting, Wallgate announces that it yesterday issued a revised circular (the
"Revised Circular") to shareholders to convene a general meeting on 21 November 2008 at which it will seek shareholder approval, inter alia,
to disapply pre-emption rights for a new issue of ordinary shares with a nominal value of approximately 727 per cent. of the Company's
existing issued share capital and a subdivision of each ordinary share of 0.75p into one ordinary share of 0.075p and one deferred share of
0.675p. This will allow the Company greater flexibility to undertake, subject, inter alia, to shareholder approval of the resolutions set
out in the Revised Circular, a proposed placing of ordinary shares to raise between �1,000,000 and �1,500,000 for the reasons set out in the
Company's announcement of 24 October 2008. Accordingly, the Revised Circular, dated 29 October 2008, replaces the circular dated 24 October 2008 (the "Initial Circular") and the general
meeting, convened by the Revised Circular, for 21 November 2008, replaces the general meeting previously convened for 17 November 2008.
Shareholders should therefore disregard the Initial Circular and accompanying cream form of proxy and should only utilise the Revised
Circular and accompanying green form of proxy.


    For further information on the Company please see www.wallgategroup.com or contact:

    
 Wallgate Group plc                Howard Strowman, Chief  +44(0) 20 7559 1313
                                                Executive
                             Simon Fine, Finance Director  +44(0) 12 0470 6624
                                                                              
 Strand Partners Limited     Stuart FaulknerJames Spinney  +44(0) 20 7409 3494
                                                                              
 St Helen*s Capital Plc                      Ruari McGirr  +44(0) 20 7628 5582
                                                                              
 Hansard Group                                  John Bick  +44(0) 20 7245 1100





    About Wallgate Group plc (AIM ticker: WGT.L) 
    Wallgate Group provides outsourcing services to major manufacturers, retailers and distributors with whom it works in partnership to
maximize their net asset recovery percentage on consumer returns. Through its 'RevShare' service Wallgate provides an end-to-end solution
for returns management including store collection, inventory management, refurbishment, repackaging and remarketing of consumer returns back
across all marketing channels including online, principally for higher value consumer electronics goods. Wallgate has a wide customer base
for remarketed products which includes major high street and online retailers.


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