Investor relations & Rule 26 News Letter to the Shareholders of Petards Group plc

Water Hall Group Plc
Letter to the Shareholders of Petards Group plc
RNS Number : 8979U
Water Hall Group Plc
04 January 2013

For immediate release
4 January 2013

Water Hall Group plc

("Water Hall" or the "Company")
Letter to the shareholders of Petards Group plc
("Petards")

The Board of Water Hall announces that it has today sent a letter to the shareholders of Petards providing further background to and the reasons for it requisitioning a General Meeting. The board of Petards has 21 full days from 19 December 2012 i.e. until Wednesday, 9 January 2013 to send a notice to shareholders convening a General Meeting and the General Meeting must be held within 28 days thereafter i.e. no later than 6 February 2013.

The resolutions to be considered at the General Meeting are to remove Petards' present Non-Executive Chairman, Mr Tim Wightman, as a director, and in a separate resolution, to appoint Mr Raschid Abdullah as a director of Petards with the view that he will be appointed Executive Chairman to lead and develop the potential of Petards and its value.

Water Hall's decision to write directly to Petards' shareholders was only made after it had received no response from Petards to its invitation made on a number occasions to meet in an attempt to avoid the necessity for a General Meeting.

As the largest single shareholder owning 29.99% of Petards, the Board of Water Hall hope that as and when the Petards' board put the resolutions to its shareholders at a General Meeting, Petards' shareholders will support Water Hall's proposals by voting in favour of the resolutions which the board of Water Hall believes are in the best interests of Petards and all its stakeholders.

Enquiries:
Water Hall Group Plc
http://www.waterhallgroupplc.com
Raschid Abdullah
Tel: +44 (0) 1483 452 333

Beaumont Cornish Limited (Nominated Adviser and Broker)
Tel: +44 (0) 20 7628 3396
Roland Cornish / Michael Cornish

ENDS

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

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