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12 January 2010

Rugby Estates Plc (the "Company")

Result of General Meeting in connection with Return of Cash

Update on Total Voting Rights

At the General Meeting of the Company held at 10.00 a.m. today in connection with the proposed return of cash to shareholders, all resolutions were duly passed, including the special resolutions to reorganise the Company's share capital in order to effect the return of cash, to authorise the Company to purchase its own shares and to disapply statutory pre-emption rights.

As a result of the General Meeting, the authorities and approvals necessary to enable the return of capital to shareholders to proceed, as explained in the circular to shareholders of 11 December 2009 ("Circular"), have been obtained. The return of cash is conditional on the new ordinary shares resulting from the share capital reorganisation described below being admitted to trading on AIM. 

The return of cash involves a payment to shareholders of 45p per ordinary share of 12.5p each ("Existing Ordinary Share") in accordance with the procedures set out in the Circular and the elections of shareholders. Payments are expected to be made to shareholders on or around 22 January 2010.  

In connection with the return of cash, the Company's share capital will be consolidated so that every 6 Existing Ordinary Shares will be consolidated into 5 new ordinary shares of 15p each ('New Ordinary Shares'). The share capital consolidation is intended to maintain comparability of the Company's future and historic share price following the return of cash.

It is  expected that the Existing Ordinary Shares will cease to trade on AIM from close of business today and that the New Ordinary Shares will be admitted to trading on AIM at 8 a.m. tomorrow, Wednesday 13 January 2010.

New certificates in respect of the New Ordinary Shares are expected to be despatched to shareholders on or around 26 January 2010.

Total Voting Rights and Shares in Issue

Upon the share capital consolidation becoming effective tomorrow, the Company's issued share capital will 
consist of 11,424,993 ordinary shares with a nominal value of 15p each with voting rights. The Company does not hold any ordinary shares in treasury. Therefore, the total number of voting rights in the Company is 11,424,993 and this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules. 

For further information: 

Rugby Estates Plc  David Tye, Executive Chairman Andrew Wilson, Chief Executive	+44 (0) 20 7016 0050  www.rugbyestates.plc.uk
Financial Dynamics  Dido Laurimore Rachel Drysdale	+44 (0) 20 7831 3113
Fairfax I.S. PLC  Simon Bennett  Jeremy Porter	+44 (0) 20 7598

 

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