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Millwall Holdings Plc ('Millwall' or 'the Company')

Result of General Meeting

2nd July 2008

The Board of Millwall is pleased to announce that the Resolutions proposed by Mr Graham Ferguson Lacey were today defeated at the General Meeting held at The Den, Zampa Road, London SE16 3LN at 10.30am. Of the total votes cast relating to the First Resolution, 43.31% were in favour and 56.69% were against. In the Second Resolution, 43.31% voted in favour and 56.69% against.

Background to the general meeting

On the 7th April 2008, the Board of Millwall announced that it had received a notice from Mr Lacey and one of his companies, Sports Regeneration Ltd, requiring it to call a general meeting of the Company for the purpose of considering and voting on two resolutions. The Company declined to hold the general meeting as having taken legal advice, it believed that the resolutions proposed were vexatious and ineffective. A repeated demand from Mr Lacey on 6th May to requisition a general meeting was also refused by the Board for the same reasons.

As stated at the time, the Board believed the passing of the resolutions would have rendered it impossible to run the business, incur significant expense and prevent the Directors from being able to manage the company effectively as well as from progressing the regeneration of the Company’s properties.

Despite this clear rejection and the Board informing Mr Lacey of the considerable costs which would be incurred, Mr Lacey continued to insist that a meeting was called. Eventually, the Board agreed to call a general meeting as the costs associated with a potentially prolonged legal action to prevent one could have materially damaged the finances of the Company.

John G. Berylson, Chairman of Millwall said:

“This has been a costly and time-consuming exercise for all concerned. We are delighted that shareholders have voted against these absurd, ill-conceived and self-serving resolutions and are very grateful for the considerable support we have had from both our fans and our shareholders. However, this unnecessary process has cost us well over £100,000; money which would have been better spent on strengthening the football club. Finally we can now move on and we look forward to next season.”

Heather Rabbatts, Chief Executive of Millwall added:

“With this vote, Millwall’s shareholders have given the Board and Management a strong mandate and a free hand to continue to develop the club. We are pressing ahead on our regeneration scheme, and using the summer to improve both our facilities and our squad with the additional financial resources recently provided by the chairman.”

Millwall plc
Heather Rabbatts 020 7740 0519

Seymour Pierce
John Depasquale 020 7107 8010

Peter Ogden 020 7379 5151

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Last modified: 19-11-09