TNW Teleset Net

RNS Number:8385Q
Teleset Networks PCL
26 March 2008


26 March 2008


Teleset Networks Public Company Limited


("Teleset " or the "Company")


RESULT OF EXTRAORDINARY GENERAL MEETING ("EGM")


Further to the Company's announcement of 5 March 2008, the Company today held an
EGM and the Board reports that the following ordinary resolutions were
unanimously passed:


1 to convert the Company's share capital from Cyprus Pounds to Euros;


2 & 3 to authorise and make a pro rata offer to shareholders of 20 million
shares;


5 to authorise an additional issue of 30 million shares; and


7 to increase the authorised share capital of the Company by additional 40
million shares.


Whilst shareholders unanimously approved Resolution 5; shareholders representing
65.20% of those voting (or 63.72% of the Company's total voting share capital)
did not approve Resolutions 4 and 6 to dis-apply pre-emption rights for the
further placing of 30 million shares.


The previously announced pro rata offer of 20 million shares at 25p will now
proceed. Application forms will be sent to shareholders shortly.


Enquiries

Teleset Networks                                                 +357 22 450 790
Yiannis Demetriou

Blue Oar Securities Plc - Nominated Adviser                     +44 20 7448 4400
John Wilkes
Toby Gibbs

Metropol (UK) Limited - Broker                                  +44 20 7439 6880
Alexander Selegenev

Bankside Consultants - Financial PR adviser                     +44 20 7367 8888
Simon Bloomfield or Andy Harris




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

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