TRS Tarsus Group Plc

TIDMTRS

RNS Number : 8949S

Tarsus Group PLC

28 November 2011

Tarsus Group plc

Result of General Meeting

Disposal of ModAmont

Tarsus Group plc (LSE: TRS), the international business-to-business media group is pleased to announce that the Resolution put to Shareholders at the General Meeting held earlier today was duly passed.

On 3 October 2011 the Company announced that it had reached agreement to dispose of the Group's 51 per cent. interest in ModAmont to its joint venture partner, Premiere Vision. Owing to its significant shareholding in ModAmont, Premiere Vision was considered to be a related party for the purposes of the Listing Rules. The Disposal, therefore, constituted a related party transaction and was conditional upon the approval of Shareholders at a general meeting. A circular was posted to Shareholders on 7 November 2011 providing Shareholders with details of the Disposal and a notice convening the General Meeting. Following the passing of the Resolution, notice to exercise the put option will be given shortly in relation to the Disposal and completion is expected to take place in early December 2011.

The final proxy voting position as received by the Company in respect of the Resolution in advance of the meeting is set out below:

 
                     For (i)               Against        % share 
                                                           capital 
                                                           voted 
                                                           (ii) 
 Votes cast   Number       % shares   Number   % shares              Votes withheld 
                            voted               voted                 (iii) 
 74,970,128   74,970,128   100%       0        0%         86.3%      83,156 
 

Notes:

(i) Any proxy appointments which gave discretion to the Chairman or the Company Secretary have been included in the 'For' total.

(ii) Issued ordinary share capital at 28 November 2011: 86,832,572 Ordinary Shares.

(iii) A 'Vote Withheld' is not counted towards the votes cast 'For' or 'Against' a resolution.

A copy of the Resolution passed at the General Meeting has been submitted to the National Storage Mechanism and will shortly be available for inspection at www.hemscott.com/nsm.do

For further information contact:

Tarsus Group plc

 
 Douglas Emslie, Group Managing 
  Director                         020 8846 2700 
 Dan O'Brien, Group Finance 
  Director 
 

Investec Investment Banking (Financial Adviser and Broker)

 
 Patrick Robb      020 7597 5970 
 David Anderson 
 

Madano Partnership

 
 Matthew Moth    020 7593 4000 
 

Terms defined in the circular issued by the Company on 7 November 2011 shall have the same meaning in this announcement.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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