Result of General Meeting and Company Update
July 19 2010 - 11:49AM
UK Regulatory
TIDMREAL
RNS Number : 5790P
Real Office Group PLC
19 July 2010
19 July 2010
Real Office Group
("ROG" of the "Company")
The Board of ROG is pleased to announce that at the Company's General Meeting
held on 16 July 2010 all resolutions were passed including the capital reduction
to create a strong balance sheet going forward. The expected date of the court
hearing to confirm the reduction and cancellation of the share premium account
is 18 August 2010 and the reduction is expected to become effective on 19 August
2010.
Company Update
- The restructure of Real Office Group is ongoing and will result in a
significant reduction in overhead for the current financial year.
- Pacific Interiors London has traded strongly and has put in a very creditable
performance in line with management's expectations.
- Pacific India continues to both grow and trade profitably.
- The order book for Pacific India and Pacific UK remain strong
- The wholly owned Pacific businesses in the Middle East have been liquidated
- Paddy Greenwood has stepped down from the Board of the Company, effective from
16th July 2010 and will continue to advise the group on a consulting basis.
Roger Smee, Chairman of Real Office Group plc concluded "The restructuring that
ROG has implemented over the past six months provides the group with a much
reduced overhead and with a framework for growth going forward. Performance so
far in 2010 has been strong and we are optimistic about performance in 2011."
Real Office Group plc
Roger Smee, Chairman
Philip Brady, Finance Director
0207 822 0989
Cenkos, Nominated Advisor to the Company
Nick Wells/Elizabeth Bowman
0207 397 8900
This information is provided by RNS
The company news service from the London Stock Exchange
END
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