Pointon York Group Limited
LSE : PYV

August 15, 2012 11:35 ET

Directorate change and withdrawal from PLUS

Pointon York Group Ltd ("the Company")



15th August 2012

RESIGNATION OF NON-EXECUTIVE DIRECTOR

The directors of PYG today announce that Stephen Barclay has resigned from the board. After serving for
nine years Stephen Barclay is thanked for his services to the Company. The board has commenced a search for
a suitably qualified non-executive director to replace Stephen. The board wishes Stephen well and will, it
is hoped, announce the appointment of a successor shortly


PLANNED WITHDRAWAL FROM THE PLUS MARKET

The Directors of Pointon York Group Limited announce the intention of the Company to withdraw from the PLUS
Market.  The  Directors believe that the present benefits of quotation on the PLUS Market  are  potentially
outweighed  by  the ever increasing costs (both direct and particularly indirect) involved.  The  Directors
note that the Company's securities trade infrequently on the market with only two trades in the previous  3
years.  Nevertheless, the directors believe that it is important to keep shareholders informed of  progress
within  the  business and whilst withdrawal from the PLUS market will mean that the Company can  no  longer
make  announcements through the PLUS website it will continue to keep shareholders advised through mailings
to the registered shareholder address using the same reporting timetable as at present.

No formal alternative arrangements for dealing in the Company's securities (shares, warrants or loan notes)
are  proposed by the directors at the present time, although securities holders may wish to speak to  their
own  stockbroker  or to the Company's Corporate Adviser, Loeb Aron & Company Ltd., who can provide  further
information on an on-going basis for those who wish to trade the Company's securities.

Under  the PLUS rules, the Company is required to give shareholders a period of 10 business days to  object
to the intended withdrawal of its securities from the PLUS market. Any holder of shares or other securities
of  the  Company wishing to raise an objection should contact PLUS in confidence by Friday 31  August  2012
(email:  plus-sxregulation@icap.com). In the event that "legitimate objections" are raised with  PLUS  then
the Company will be required to call a General Meeting to seek approval for  the withdrawal from PLUS.  The
Directors  hope that the costs of such a meeting will not be necessary in the circumstances of  seeking  to
reduce the costs incurred by your Company for limited benefit at this time.

Yours sincerely,

Geoffrey Pointon

Chairman

The Directors of Pointon York Group Ltd accept responsibility for the content of this announcement.

Contacts

Steven Clews Pointon York Group Ltd.

Frank Lucas/ Peter Freeman Loeb Aron & Company Ltd: 020 7628 1128

Contact Information

  • Pointon York Group Limited