BWL Bridgewell

RNS Number:5115Y
Bridgewell Group PLC
18 June 2007


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF
AMERICA, CANADA, AUSTRALIA OR JAPAN

                    Bridgewell Group plc ("Bridgewell")

                         Posting of Scheme Document

On 17 May 2007, the boards of Bridgewell and Landsbanki Islands hf
("Landsbanki") announced that they had reached agreement on the terms of a
recommended cash and share takeover of Bridgewell by Landsbanki to be effected
by way of a scheme of arrangement under section 425 of the Companies Act 1985
(the "Scheme").

Bridgewell is posting a scheme document to holders of Bridgewell Ordinary Shares
(the "Scheme Document") convening a Court Meeting and a Bridgewell EGM for
Tuesday 10 July 2007 at which resolutions will be proposed to approve the
Scheme.

The Scheme Document can be inspected at Bridgewell's offices at Old Change
House, 128 Queen Victoria Street, London EC4V 4BJ.

The last day of dealings in, and for registration of transfers of, Bridgewell
Ordinary Shares is expected to be Wednesday 8 August 2007. Subject to the Scheme
becoming effective, Bridgewell will apply to the London Stock Exchange for the
cancellation of the admission to trading of Bridgewell Ordinary Shares on AIM.
Subject to the passing of the necessary shareholder resolutions at the Court
Meeting and the Bridgewell EGM and to the other conditions set out in the Scheme
Document being satisfied or (where applicable) waived, it is expected that both
the Scheme and the cancellation of the admission to trading of Bridgewell
Ordinary Shares on AIM will become effective on 9 August 2007.

Expected timetable of principal events:

Court Meeting and EGM                                      Tuesday 10 July 2007                                 
Court hearing to sanction the Scheme                        Monday 30 July 2007                                
Court hearing to confirm the Capital Reduction          Wednesday 8 August 2007
Effective date of the Scheme                             Thursday 9 August 2007
Latest date for despatch of consideration and           Thursday 23 August 2007
settlement through CREST                                                              

Enquiries:

Maitland:      Neil Bennett/Anne Wheeler      020 7379 5151




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

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