Sale of Fractional Entitlements
Petards Group plc ("Petards" or "the Company"), the AIM quoted developer of advanced security and surveillance systems, announces that on 20 October 2011 it sold 116,000 of its own shares at a price of 21.5 pence per share. These shares represent the fractional entitlements that arose as a result of the capital reorganisation completed in July 2011.
The proceeds from the sale of the fractional entitlements shall be distributed pro rata amongst the relevant shareholders save that where a shareholder is entitled to an amount which is less than £3 it will (in accordance with the Articles) not be distributed to such shareholder but will be retained by the Company for its benefit.
Payments to the shareholders due fractional entitlements are expected to be despatched on or about 31 October 2011.