Result of EGM

Result of EGM

R.E.A.Hldgs PLC

R.E.A.Hldgs PLC 18 April 2006 R.E.A. Holdings plc ("REA") Results of extraordinary general meeting and open offer and progress of proposals contained in REA's circular of 22 March 2006 (the "circular") REA announces that, at the meeting of warrant holders and extraordinary general meeting of REA held earlier today, all of the resolutions set out in the notices of those meetings (as included in the circular) were duly passed. Copies of the resolutions are being submitted to the UK Listing Authority and will shortly be available for inspection at the UK Listing Authority's Document Viewing Facility, which is situated at: Financial Services Authority, 25 The North Colonnade, Canary Wharf, London, E14 5HS Telephone: 020 7676 1000 REA also announces that following the closing of the open offer (as detailed in the circular) at 3.00 pm on 12 April 2006, the total number of new ordinary shares in respect of which valid applications have been received under the open offer is 1,104,856. Pursuant to and on the terms of the ordinary share placing, the balance of the new ordinary shares proposed to be issued, namely a further 1,723,144 new ordinary shares are now placed on a firm basis with placees procured by Mirabaud. Accordingly, a total of 2,828,000 new ordinary shares are to be issued pursuant to the ordinary share placing and open offer subject only to admission of such new ordinary shares to the Official List and to the London Stock Exchange's market for listed securities. Such admissions are expected to become effective tomorrow, 19 April 2006. CREST accounts in respect of new ordinary shares are also expected to be credited tomorrow and definitive share certificates despatched on or before 26 April 2006. Upon the issue of the new ordinary shares becoming unconditional, the proposal as regards the amendment of the terms of the warrants (details of which were also contained in the circular) will become effective. Each warrant will then entitle the holder to subscribe one ordinary share at a price of 60p (either by payment of 60p in cash or by surrender of 0.60 preference shares) on each of 31 July, 31 August and 29 September 2006. To the extent that a holder of warrants does not exercise his warrant rights on or before 29 September 2006, his warrants will be exercised on his behalf in October 2006, the resultant ordinary shares sold and the net proceeds of sale, after deduction of the cost of subscribing such ordinary shares, distributed to him. Application will now be made to the High Court for confirmation of the reduction of the capital of REA by £6 million in aggregate by cancellation of the capital redemption reserve and by reduction of the amount standing to the credit of the share premium account. Subject thereto and to the other conditions detailed in the circular, 3,000,000 new preference shares have been placed on REA's behalf by Mirabaud pursuant to and on the terms of the preference share placing. Terms and expressions in this announcement bear the same meaning as in the circular, save where the context otherwise requires. This information is provided by RNS The company news service from the London Stock Exchange
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