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OPD Group PLC Proposes Delisting

OPD Group PLC Proposes Delisting
Proposal to cancel the admission of the shares of OPD to the Official List and to trading on the London Stock Exchange's market for listed securities ("Delisting" or "Delist")
Proposal has the support of holders of approximately 93.5 per cent of the OPD shares
OPD was notified on 29 April 2010 of the disposal by funds managed by Schroders plc of their entire shareholding in the Company to a party related to Offerco Limited.
The Board believes that the percentage of the Company's shares in public hands is currently only 6.5 per cent and that Offerco Limited and associated parties hold the remaining shares in the Company.
As set out in an announcement of 17 December 2009 and in the preliminary results announcement of 23 April 2010 the Board has been exploring various measures with its major shareholders to rectify the position including selling shares to put more shares in public hands, transferring to AIM or Delisting.
Following the disposal of shares announced today the Board has determined that the only measure for which there is the requisite shareholder support is to proceed with Delisting.
A circular setting out the background to and reasons for the Delisting, why the Board believes it to be in the best interests of shareholders as a whole, its recommendation to shareholders to vote in favour of the proposal to Delist and the implications of Delisting will be sent to shareholders, with a proxy card and notice of meeting in due course.
The resolution to Delist will require a 75 percent majority from shareholders voting in person or by proxy to be approved.  Shareholders with a combined holding of approximately 93.5 per cent of the shares of the Company have confirmed that it is their current intention to vote in favour of the resolution.


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