Results of Loan Stock Holders' Meeting (1828Z)

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RNS Number : 1828Z

MWB Group Holdings PLC

10 January 2011

for Immediate Release

10 JANUARY 2011

MWB Group Holdings Plc

(the 'Company')

Results of Loan Stock Holders' meeting held on 10 January 2011

The Company is pleased to announce the results of the meeting of Loan Stock Holders held at 11.00 a.m. today (the "Loan Stock Meeting"). Full details of the Resolution are set out on pages 22 to 24 of the circular issued to Loan Stock Holders by the Company dated 6 December 2010 (the "Circular"), which is available from the Company Secretary, City Group PLC, 30 City Road, London EC1Y 2AG and from the National Storage Mechanism available at www.Hemscott.com/nsm.do.

At 10 January 2011, the date of the Loan Stock Meeting, the Company had GBP22 million of Loan Stock in issue, and each GBP1 nominal of Loan Stock had one vote at the Loan Stock Meeting.

The Loan Stock Meeting was called to consider, and if thought fit approve, proposed amendments to the Trust Deed together with certain matters relating to the implementation of such amendments as set out in the notice of the Loan Stock Meeting. The Resolution relating thereto was approved at the Loan Stock Meeting held earlier today.

In accordance with the Trust Deed, as implemented by the Trustee, the Resolution was voted on by means of a poll of Loan Stock Holders. The results of the poll and the percentages of Loan Stock voted, were as follows:

 
                            For      Against   Withheld/Abstain 
---------------  --------------  -----------  ----------------- 
                  GBP19,071,825   GBP350,000                  - 
---------------  --------------  -----------  ----------------- 
 Percentage of 
  voting                  19.2%         1.8%                  - 
---------------  --------------  -----------  -----------------

Contacts

MWB Group Holdings Plc Tel: 020 7706 2121

Richard Balfour-Lynn, Chief Executive

Jagtar Singh, Finance Director

Panmure Gordon Tel: 020 7459 3600

Hugh Morgan

Adam Pollock

Appendix

DEFINITIONS

The following definitions apply throughout this announcement, unless the context otherwise requires:

 
 "Extraordinary Resolution"   an extraordinary resolution of 
                               Loan Stock Holders passed by 
                               a majority consisting of not 
                               less than 75 per cent. of persons 
                               voting on a show of hands or, 
                               if a poll is demanded, by a majority 
                               consisting of not less than 75 
                               per cent. of the votes given 
                               on a poll 
---------------------------  -------------------------------------- 
 "Loan Stock"                 the 9.75 per cent. unsecured 
                               loan stock 2016 (prior to the 
                               passing of the Resolution, the 
                               9.75 per cent. unsecured loan 
                               stock 2009/2012) of the Company 
                               in the nominal principal amount 
                               of GBP30 million, of which GBP22 
                               million is currently outstanding 
---------------------------  -------------------------------------- 
 "Loan Stock Holders"         holders of Loan Stock 
---------------------------  -------------------------------------- 
 "MWB Property"               MWB Property Limited, formerly 
                               named Marylebone Warwick Balfour 
                               Group Plc (company number 3125437), 
                               which has been a wholly owned 
                               subsidiary of the Company since 
                               3 April 2008 
---------------------------  -------------------------------------- 
 "Resolution"                 the Extraordinary Resolution 
                               set out in the notice of the 
                               Loan Stock Meeting contained 
                               in the Circular 
---------------------------  -------------------------------------- 
 "Supplemental Trust Deed"    the supplemental trust deed dated 
                               12 January 2010 made between 
                               (1) the Company and (2) the Trustee 
                               in relation to the Trust Deed 
---------------------------  -------------------------------------- 
 "Trust Deed"                 the trust deed dated 28 June 
                               2005 made between (1) MWB Property 
                               and (2) the Trustee constituting 
                               the Loan Stock which, on 11 April 
                               2008, was novated to the Company 
                               (with the Company assuming all 
                               of the rights and liabilities 
                               of MWB Property in respect of 
                               such Loan Stock), and as amended 
                               and supplemented by the Supplemental 
                               Trust Deed 
---------------------------  -------------------------------------- 
 "Trustee"                    Capita Trust Company Limited 
                               of 7 Floor, Phoenix House, 18 
                               King William Street, London EC4N 
                               7HE 
---------------------------  --------------------------------------

This information is provided by RNS

The company news service from the London Stock Exchange

END

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