VERI Veris

 

TIDMVERI 
 
RNS Number : 9359O 
Veris PLC 
16 March 2009 
 

 
 
Veris plc 
 
 
Notice of EGM, Grant of Options and Exercise of Options 
 
 
16 March 2009 
 
 
Veris plc ("Veris" or the "Company") today announces that an Extraordinary 
General Meeting of the Company has been convened for 12.00 p.m. on 9 April 2009 
at the offices of Maples and Calder, 75 St. Stephen's Green, Dublin 2, Ireland. 
 
 
The circular containing the Notice of EGM and Form of Proxy have been posted to 
the Company's shareholders and is available on the Company's website: 
www.verisplc.ie. 
 
 
The purpose of the EGM is to seek shareholder approval to repurchase 767,222 
ordinary shares in Veris held by Niall Doris and persons connected to him at 
EUR0.28 per share being the share price on 27 February 2009. The related share 
buyback agreements were entered into in connection with the Group's sale of its 
Moving and Storage Division as outlined in the Company Announcement dated 3 
March 2009. 
 
 
In addition the Company is seeking authority at the Extraordinary General 
Meeting to make market purchases (within the meaning of Part XI of the 1990 
Companies Act) of up to 5,219,813 ordinary shares.  Once shareholder authority 
has been received it is the intention of the Company to commence a share buyback 
programme following the EGM and between the commencement of the close period 
preceding the release of the Company's preliminary results which are now 
expected to be released at the end of June 2009 and not early May as previously 
announced. 
 
 
Following on from the Company announcement dated 2 March 2009 and as part of an 
overall management incentivisation package, designed to contribute towards the 
maximisation of shareholder value Martin McMahon, Bernard Farrell and John 
O'Donoghue have been granted 1,000,000 , 312,500, and 133,750 share options in 
the Company at an exercise price of EUR0.20 per share.  These options are being 
granted under normal terms and conditions and will fully accelerate on a sale. 
The dilutive impact of these options will be more than offset by the share 
repurchases outlined above if the repurchase authority is approved by 
shareholders and the maximum number of shares are repurchased and cancelled. . 
 
 
On a separate note Martin McMahon has exercised options over 238,580 Veris 
shares at an exercise price of EUR0.002 per share. Application has been made for 
admission of these Shares to IEX and AIM, and this is expected to become 
effective on 20 March 2009. Following the exercise of these options, the issued 
share capital of the Company is 26,337,644 ordinary shares. Following the 
exercise of these options Martin McMahon holds 1,155,363 ordinary shares which 
represents approximately 4.4% of the enlarged issued share capital. 
 
 
For further information, please contact: 
 
 
+-------------------------+---------------------+ 
| Veris plc               |                     | 
+-------------------------+---------------------+ 
| Bernard Farrell, CEO    | + 353 1 294 7080    | 
+-------------------------+---------------------+ 
|                         |                     | 
+-------------------------+---------------------+ 
| Davy Corporate Finance  |                     | 
+-------------------------+---------------------+ 
| Des Carville, Director  | +353 1 679 6363     | 
+-------------------------+---------------------+ 
| JJ Cahill               |                     | 
+-------------------------+---------------------+ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 NOECKAKPPBKDCND 
 

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