General Meeting to be held on 27 July 2011 (6542K)

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RNS Number : 6542K

Astaire Group Plc

19 July 2011

Astaire Group PLC

General Meeting to be held on 27 July 2011

19 July 2011

On 28 June 2011 Astaire Group PLC ("Astaire") posted a circular to its shareholders convening a general meeting to be held on 27 July 2011 to consider resolutions:

(i) to receive and adopt the annual report and accounts for the year ended 31 December 2010

(ii) to reappoint the auditors; and

(iii) to cancel the admission of Astaire Shares to trading on AIM ("Cancellation").

Astaire and Evolve Capital PLC ("Evolve") announced on 13 July 2011 that major shareholders in Astaire were to be consulted about proposals for a possible scheme of arrangement to cancel all the Astaire Shares not held by Evolve in consideration for a choice of either cash or new Evolve Shares. Evolve currently owns 53.6% of Astaire's issued share capital.

The Board of Astaire recognises that if such a scheme of arrangement is approved, Evolve would become the sole shareholder of Astaire and the admission of Astaire shares to AIM would be cancelled on the scheme becoming effective. Alternatively if the scheme does not proceed, Astaire shareholders should have the opportunity to consider the benefits of retaining or cancelling the admission of Astaire Shares to trading on AIM. Accordingly they propose that when the first two resolutions have been considered at the General Meeting to be held on 27 July 2011, the meeting is adjourned until 11.00am on 30 September 2011, by which time it should be clear whether the Scheme will proceed or not. The adjourned meeting will take place at the offices of Fasken Martineau LLP, Third Floor, 17 Hanover Square, London W1S 1HU).

If the Cancellation is approved at the adjourned meeting the Cancellation will be effected at 07.00am on 10 October 2011.

Enquiries:

Astaire Group Plc Tel: 020 7492 4757

Chris Roberts, Finance Director

Fairfax I.S. PLC

Nominated Adviser/Broker Tel: 020 7598 5368

David Floyd, Katy Birkin

This information is provided by RNS

The company news service from the London Stock Exchange

END

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