Result of AGM & Incorporation of New Investment

Westside Investments plc, the AIM listed investment vehicle, held its Annual General Meeting today and all resolutions were duly passed. 

 

At the meeting, the Company announced that it had formed a new company, Westside Mining Plc, to exploit opportunities which it believes will become available to it in the mining, commodity and natural resource sectors.  Westside Mining Plc (registration number: 8100323) will have a fully paid up share capital of £100,000, which is 50% owned by Westside and 50% owned by Mr Bruce Rowan.

 Westside CEO Geoffrey Simmonds said; "In line with our refocused direction and strategy, as highlighted in our recent final results announcement, we are delighted to be working closely with Mr. Rowan, a well-known entrepreneur, and anticipate building value for our shareholders as we look to become involved in the exciting resource sector."

 Under AIM Rule 13 as Mr Rowan is a substantial shareholder in Westside, the incorporation of Westside Mining Plc is a related party transaction.  The Westside Directors consider, having consulted with Seymour Pierce Limited, that the terms of the incorporation of Westside Mining Plc is fair and reasonable in so far as the Westside shareholders are concerned.

 
 

* * ENDS * *

 

For further information please visit www.westsideacquisitions.com or contact:

 

Geoffrey Simmonds

Westside Investments plc

Tel: 020 7935 0823

Mark Percy

Seymour Pierce Limited

Tel: 020 7107 8000

Catherine Leftley

Seymour Pierce Limited

Tel: 020 7107 8000

Elisabeth Cowell

St Brides Media & Finance Ltd

Tel: 020 7236 1177

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