Watford Leisure PLC 

("Watford Leisure" or the "Company")

Result of AGM and Directorate Changes

Suspension of Trading on AIM

Watford Leisure announces that immediately prior to the Company's Annual General Meeting, held yesterday evening, Jim Russo, Vince Russo and Robin Williams resigned from the board of Watford Leisure ("Board") with immediate effect. All other resolutions, including those to reappoint the remaining members of the board were duly passed.  Both Valley Grown Salads and Fordwat Limited abstained from voting on the resolutions to re-appoint the non-executive directors to the Board.

Following the resignation of the aforementioned directors, the Board received a written demand from Valley Grown Salads (a company in which Jim and Vince Russo have an interest) for the repayment of its £4.88m of loans (made to the Company) on or before close of business on 16 December 2009.

The Board continues to consider indicative proposals from both Valley Grown Salads and Fordwat Limited. However, pending resolution and clarification of its financial position the Company has requested that its shares be suspended from trading on AIM. In the event that a funding solution cannot be obtained then the Company may have to be placed in administration. A further announcement will be made in due course. 

Enquiries: 

Watford Leisure PLC    

Tel: 01923 496 000

Julian Winter, Chief Executive Officer

Strand Hanson Limited

Tel: 020 7409 3494

Rory Murphy