MedservRegis plc - EGM re Share Split

On 30 October, Medserv plc informed shareholders of an Extraordinary General Meeting (EGM) to be held on 21 November 2013 during which shareholders will be asked to approve a number of resolutions in connection with the re-denomination of its nominal value as well as a 2.5 for 1 share split.

The resolutions seek to re-denominate the nominal value from €0.232937 to €0.25 per share through the capitalisation of €170,630 from the Company’s retained earnings. As a result, the Company’s authorised share capital will be divided into 20,000,000 shares of a nominal value of €0.25 each and an issued share capital of 10,000,000 shares with a nominal value of €0.25 each.

The Company is also seeking approval for a 2.5 for 1 share split. Through this share split, the Company’s authorised share capital will be divided into 50,000,000 shares with a nominal value of €0.10 each and an issued share capital of 25,000,000 ordinary shares with a nominal value of €0.10 each.

If approved, these changes will also be reflected in the Memorandum & Articles of Association.

The Circular to Shareholders states that any shareholder ending up with a fractional share after the share split will be consolidated into one integral share with any funding required to be settled by Mr Anthony Diacono, one of the major shareholders of the Company.

The Circular also notes that the Board of Directors are recommending shareholders to vote in favour of these resolutions as they “are in the best interests of the Company”.

The share split is expected to take place on 2 December 2013 and the additional shares will be admitted to the Official List on 3 December 2013.