Press announcement
13 December 2012
ISIS Equity Partners LLP ("ISIS")
Statement re Proactis Holdings plc ("Proactis" or "the
Company")
Prior to the Annual General Meeting of the Company, to be held
on 17 December 2012, ISIS wishes to
make all of its fellow shareholders aware that it has recently
written to the Board of Proactis in order to:
1. Express concern at the performance of the Company since
Admission in 2006,
during which period the share price has fallen from 43p to
25.75p.
2. Request that the Board clearly articulate to all shareholders
its strategy
for creating shareholder value
3. Request that the Company formally appoint corporate finance
advisers to
conduct a strategic review to assess whether shareholders would
see better
value through a sale or merger of the business than through
remaining as an
independent public company
4. Request that in line with current best practice under the UK
Corporate
Governance Code, all directors should seek re-election
annually
ISIS is in continuing discussions with the company on these
matters.
As at 13 December 2012 ISIS held
8,300,200 ordinary shares in Proactis, representing 26.28 % of the
company's issued share capital.
Enquiries: Ken Wotton, ISIS EP
LLP - 020 7506 5600