MAP MG Capital

RNS Number:4795D
MG Capital PLC
29 September 2004


                         MG CAPITAL PLC (the "Company")

                          RESULT OF OPEN OFFER AND EGM


On 7 September 2004, the Company announced several proposals, including an open
offer (the "Open Offer") by Keith, Bayley, Rogers & Co. Limited, on behalf of
the Company, of 380,826 new ordinary shares of 50p each in the capital of the
Company (the "Offer Shares") at 100p per share to raise up to #380,826 before
expenses.

The Open Offer closed at 3.00 p.m. yesterday, at which time valid applications
had been received for 28,164 Offer Shares, representing approximately 7.4 per
cent. of the shares which could be taken up under the Open Offer.  In accordance
with terms of the Open Offer, the balance of 352,662 Offer Shares not taken up
by qualifying shareholders under the Open Offer will not be issued.

All of the resolutions put to shareholders at an EGM of the Company held today
were passed and therefore the proposals announced on 7 September 2004 have been
approved by shareholders. Completion of the proposals, including the acquisition
of Hannen & Company Ltd and the placing of up to 2,500,000 New Ordinary Shares
of 50p each at a price of #1 per share, is expected to take place on 4 October
2004 and all the New Ordinary Shares of 50p each are expected to commence
trading on AIM on 5 October 2004.


29 September 2004


Enquiries


MG Capital plc 020 7332 2040
Charles Fowler, Chairman



                      This information is provided by RNS
            The company news service from the London Stock Exchange
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