Result of General Meeting (5411S)

TIDMLSL

RNS Number : 5411S

LSL Property Services

22 November 2011

 
 For immediate release   22 November 2011

LSL Property Services plc

("Company")

Result of General Meeting

LSL Property Services plc, a leading provider of residential property services, is pleased to announce that at the General Meeting of the Company held earlier today, the following ordinary resolutions were duly passed.

1. That the proposed acquisition by the Company's wholly owned subsidiary, LSL PS Limited ("Subsidiary") of the entire issued share capital of Marsh & Parsons Limited, subject to the terms and conditions of:

a. a conditional acquisition agreement dated 4(th) November 2011 made between (1) the Company; and (2) Sherry

FitzGerald Holdings Limited, Peter Rollings and Liza-Jane Kelly   ("Acquisition Agreement"); and

b. an investment agreement between (1) the Company; and (2) Peter Rollings and Liza-Jane Kelly; and (3) the Subsidiary dated 4(th) November 2011 ("Investment Agreement");

be and are hereby approved and that the directors of the Company ("Directors") be and are hereby authorised to do all things that are, in the opinion of the Directors (or a duly authorised committee of them), necessary or desirable to give effect to and complete the Acquisition Agreement and the Investment Agreement and the documents referred to in them with such modifications, amendments, variations or waivers as they (or any such committee) consider to be necessary or desirable provided such modifications, amendments, variations or waivers are not of a material nature.

2. Conditional upon the passing of resolution 1 above, that the establishment of the 2011 LSL Employee Benefit Trust for the benefit of all employees of the Company and its subsidiaries (within the meaning of section 1159 Companies Act 2006) from time to time and the entering into of the deed of trust between (1) the Company and (2) Kleinwort Benson (Jersey) Trustees Limited to establish such employee benefit trust be and are hereby approved.

Completion of the transaction is scheduled to take place today.

95,972,667 proxy votes were received (representing 91.85% of the issued share capital) with 98.74% of the votes cast supporting the resolution 1 or granting the Chairman discretion to vote on their behalf in respect of resolution 1, and 99.99% of the votes cast supporting the resolution 2 or granting the Chairman discretion to vote on their behalf in respect of resolution 2

In accordance with the UK Listing Authority's Listing Rules, copies of the resolutions passed will shortly be available to the public for inspection through the National Storage Mechanism hosted by Morningstar plc on behalf of the UK Listing Authority.

The documents can also be accessed from LSL's website at: www.lslps.co.uk

For further information, please contact:

 
Simon Embley, Group CEO 
 Steve Cooke, Group Finance Director 
 
 LSL Property Services plc                   0207 382 0365 
 
 Tim Medak 
 Graham Swindells 
 Karen du Plessis 
 
 Ernst & Young LLP, Sponsor and Financial 
 Advisor                                     0207 951 2000 
Richard Darby 
 Nicola Cronk 
 
 Buchanan                                    0207 466 5000

Notes to Editors

LSL Property Services plc is one of the leading residential property services companies in the UK and provides a broad range of services to its clients who are principally mortgage lenders, as well as buyers and sellers of residential properties. For further information, please visit our website: www.lslps.co.uk.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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