Royal Doulton has agreed to a request from Waterford Wedgwood to delay today's extraordinary general meeting to approve the proposed rights issue until March 15th.
The delay is to allow the board of Royal Doulton to consider an alternative proposal for the restructuring of the company. Waterford Wedgwood believes it may offer better value to Royal Doulton shareholders and may render a rights issue unnecessary.
Waterford Wedgwood has given the board of Royal Doulton assurances that, subject to certain conditions, it will not vote against the relevant resolution to permit the proposed Royal Doulton rights.
AFP