Top Ten Holdings PLC - Result of EGM

RNS Number:1624X
Top Ten Holdings PLC
19 January 2006


TOP TEN HOLDINGS PLC


Result of Extraordinary General Meeting


Top Ten Holdings PLC ('Top Ten') is pleased to announce that at the
Extraordinary General Meeting ('EGM') of the Company held earlier today, all of
the proposed resolutions were duly passed.


As announced on 23 December 2005, Top Ten is acquiring the entire share capital
of Apollo Bingo Limited ('Apollo') for a total consideration of £11.1 million in
cash. The consideration has been financed through the placing of 3,864,550 new
ordinary shares issued at 85p per share, raising gross funds of £3.28 million,
and debt financing for the balance of the consideration from new bank facilities
of £42.5 million.


Apollo consists of three freehold clubs, in Rhyl, Blackpool and Caernarfon. The
enlarged group will have almost 3 million admissions per year and the
acquisition of Apollo is expected to be earnings enhancing in the first year.


Following the completion of the acquisition, Top Ten retains an undrawn bank
facility with National Westminster Bank Plc of approximately £14 million and is
well placed for further acquisitions in a fragmented market.


At the EGM, Top Ten shareholders also approved the share consolidation on the
basis of one new ordinary share of 20p each for every 20 existing ordinary
shares of 1p each ('the Consolidation'). The ISIN for the Company's new ordinary
shares of 20p each is GB00B0V90L66.


As a result of the Consolidation and the Placing, application has been made for
the admission of up to 25,324,614 new ordinary shares of 20p each to trading on
AIM ('Admission') and it is expected that Admission will become effective at
8:00 a.m. tomorrow, Friday 20 January 2006. The acquisition of Apollo will also
be completed following Admission.


                                                                 19 January 2006

For Further Information:


Top Ten Holdings plc                                 01727 850793

Sir Aubrey Brocklebank, Chairman

Graham Kerr, Chief Executive

College Hill                                         020 7457 2020

Alex Walters

Charles Stanley & Co. Limited

Russell Cook                                         020 7739 8200


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