Please find below an announcement from the Board of Ipex Holdings Limited:                 

Dear Shareholders 
 
Results of the Ipex Holdings Limited General Meeting held at 9am on 5th December 2013
 
The Ipex Holdings Limited General Meeting was held this morning at 9am and shareholders voted on three resolutions:
 
1.      To approve the Open Offer and related matters
2.      To approve the directors’ participation in the Open Offer
3.      To wind up the Company and related matters
 
A majority of votes were voted and of those, the overwhelming majority (approaching 90%) was in favour of all three resolutions.  The Open Offer and subsequent liquidation of Ipex Holdings Limited will therefore proceed.  All share applications must be received by 11am next Wednesday 11th December 2013.  The process to wind up the company will proceed in short order after this date.
 
We would like to thank all those who voted and those who are subscribing for new shares in the offer.
  
Offer Price 
 
As previously confirmed, the Directors evaluated the feedback from shareholders and set the price for the Open Offer at 10p.   A total of up to £3.3m will be raised. 
 
Application Forms
 
If you have decided you wish to invest in this round, whether below, at, or above pro rata, please send your completed application form with a cheque or banker’s draft to:
 
Capita Asset Services
Corporate Actions
The Registry
34, Beckenham Road
Beckenham
Kent
BR3 4TU
 
If you wish to make an electronic payment please contact Chris Haynes at chris@ipex.com.  For those investing from overseas, we suggest that you make the payment electronically (details can be obtained from Chris Haynes).    If this is not available to you, you may pay by cheque in foreign currency but you will need to contact us to get the appropriate currency rate. 
 
Deferred Payment
 
If you wish to defer payment for your shares (ie to follow receipt of cash from Project Rose) please complete your application form and enclose a post-dated cheque dated January 15th 2014.  Please be mindful that there is an outside chance of a value shift in the investment between now and mid-January, in which case tax might become due on your new investment.  We do not think this is likely but if you are concerned about this, please take your own advice as to the advisability of deferring payment.
 
How to calculate your pro rata
 
To calculate the investment you need to make to maintain your pro rata multiply the number of shares that you currently hold in Ipex Holdings Limited by 0.15272 and that will tell you the sterling amount, in pounds, that you need to invest.  Then simply multiply that number by 10 to give you the number of shares you need to subscribe for (because it is 10 pence per share, you need to be dividing by 0.1, so that translates to multiplying by 10).
 
So for example, if you currently hold 10,000 shares in IHL, your pro rata money investment is:  10,000*0.15272= £1,527.20: you would need to apply for £1527.20 x 10 = 15,272 shares to maintain your pro rata position.
   
Best regards
 
Jon and Martin