RNS Number : 1981Y
  Millwall Holdings PLC
  02 July 2008
   


    Millwall Holdings Plc ('Millwall' or 'the Company')

Result of General Meeting

    2nd July 2008 
    
The Board of Millwall is pleased to announce that the Resolutions proposed by Mr Graham Ferguson Lacey were today defeated at the General
Meeting held at The Den, Zampa Road, London SE16 3LN at 10.30am. Of the total votes cast relating to the First Resolution, 43.31% were in
favour and 56.69% were against. In the Second Resolution, 43.31% voted in favour and 56.69% against. 

    Background to the general meeting

    On the 7th April 2008, the Board of Millwall announced that it had received a notice from Mr Lacey and one of his companies, Sports
Regeneration Ltd, requiring it to call a general meeting of the Company for the purpose of considering and voting on two resolutions. The
Company declined to hold the general meeting as having taken legal advice, it believed that the resolutions proposed were vexatious and
ineffective. A repeated demand from Mr Lacey on 6th May to requisition a general meeting was also refused by the Board for the same reasons.


    As stated at the time, the Board believed the passing of the resolutions would have rendered it impossible to run the business, incur
significant expense and prevent the Directors from being able to manage the company effectively as well as from progressing the regeneration
of the Company's properties. 

    Despite this clear rejection and the Board informing Mr Lacey of the considerable costs which would be incurred, Mr Lacey continued to
insist that a meeting was called. Eventually, the Board agreed to call a general meeting as the costs associated with a potentially
prolonged legal action to prevent one could have materially damaged the finances of the Company. 

    John G. Berylson, Chairman of Millwall said:

    "This has been a costly and time-consuming exercise for all concerned. We are delighted that shareholders have voted against these
absurd, ill-conceived and self-serving resolutions and are very grateful for the considerable support we have had from both our fans and our
shareholders. However, this unnecessary process has cost us well over �100,000; money which would have been better spent on strengthening
the football club. Finally we can now move on and we look forward to next season."

    Heather Rabbatts, Chief Executive of Millwall added:

    "With this vote, Millwall's shareholders have given the Board and Management a strong mandate and a free hand to continue to develop the
club. We are pressing ahead on our regeneration scheme, and using the summer to improve both our facilities and our squad with the
additional financial resources recently provided by the chairman."


    Contact:
    Millwall plc
Heather Rabbatts                                 020 7740 0519

    Seymour Pierce
John Depasquale                                  020 7107 8010

    Maitland
    Peter Ogden                                         020 7379 5151

This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
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