AGM Statement
November 20 2002 - 7:17AM
UK Regulatory
RNS Number:0535E
Eleco PLC
20 November 2002
20 November 2002
ELECO PLC
AGM STATEMENT
At Eleco plc's Annual General Meeting held today (20 November 2002), Executive
Chairman John Ketteley made the following statement:
"In October I reported that Group turnover and profit for the first two months
of the current year were ahead of last year and we have continued to make
progress since then in difficult economic conditions generally.
Due diligence is currently taking place in connection with the proposed
acquisition of Consultec AB ("Consultec") of Sweden and is expected to be
completed by the end of November. Subject to satisfactory completion of the due
diligence process, Shareholders will be sent a Circular as soon as practicable
thereafter, setting out details of the proposals together with a Notice
convening an Extraordinary General Meeting to consider and, if thought fit,
approve them. Accordingly, I anticipate that Consultec will join the Eleco
Group early in 2003 as planned.
In the meantime, under our existing distribution agreement with Consultec, we
have successfully launched its "Staircon" program in the UK market and we are
very encouraged by the response from the industry. "Staircon", a stair design
and manufacturing program, is the first of a number of software launches of
Consultec programs that we will be making in the coming months."
Enquiries to:
John Ketteley, Executive Chairman
Eleco plc Tel: 01920 443 830
Tarquin Edwards / Simon Rothschild
Holborn Tel: 020 7929 5599
This information is provided by RNS
The company news service from the London Stock Exchange
END
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