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Network Data to sell head office
Network Data Holdings PLC has given notice of an Extraordinary General Meeting (EGM) and at the same time the board have said that they have received and accepted an offer of £5m for their head office, Botley's Mansion, although this may or may not lead to a sale, they add.
The notice reads
An extraordinary general meeting of the Group will be held at Botleys Mansion on 19 November 2008 at 10.00am at which the following matter will be proposed: Section 142 Notice.
Following the recent publication of the half-year 2008 results, the Directors are aware that the net assets of the Group are less than half of the Group's called-up share capital.
It is a requirement pursuant to Section 142 of the Companies Act 1985, that an EGM should now be called to consider whether any, and if so, what, steps should be taken to address the situation.
