ASHT Ashton Penney

RNS Number:2512X
Ashton Penney Holdings PLC
25 May 2007



For immediate release                                              25 May 2007

                              ASHTON PENNEY HOLDINGS PLC
                          (the "Company" or "Ashton Penney")


                                   Notice of EGM



The Company announces that a circular containing a notice of an Extraordinary
General Meeting ('EGM') has today been sent to shareholders. The EGM is
scheduled to take place at 10.00am. on Monday 25 June 2007, at Ashton Penney
Holdings Plc, 81-82 Gracechurch Street, London EC3V 0AU.


At the EGM, a special resolution ("the Resolution") will be put to shareholders
to seek shareholder approval to increase authority of the Directors to disapply
pre-emption rights in respect of allotments of equity securities from up to an
aggregate nominal value of #67,212 (being 20% of the ordinary issued share
capital) to an aggregate nominal value of #267,046 (being 75% of the ordinary
issued share capital). If passed, the Resolution will provide the Company with
greater financing flexibility, as it will afford the Directors the authority to
issue ordinary shares for cash as such opportunities arise.


The Directors consider that the passing of the Resolution is in the best
interests of the Company and its shareholders as a whole. Accordingly, the Board
unanimously recommends shareholders to vote in favour of the Resolution to be
proposed at the EGM as they intend to do in respect of their own beneficial
holdings of, in aggregate, 15,010,413 Ordinary Shares, representing
approximately 40 per cent. of the Issued Share Capital.


The Directors believe that this will provide the company greater flexibility to
issue ordinary shares for cash as such opportunities arise.


Copies of the EGM circular are available free of charge from Ashton Penney
Holdings Plc, 81-82 Gracechurch Street, London, EC3V 0AU


Ends

Contacts:

Bruce Page: Ashton Penney Holdings Plc 0207 337 6900
Roland Cornish: Beaumont Cornish Limited 0207 628 3396




                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
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