Result of Meeting
26 August 2010
DS Smith Plc ("DS Smith")
Results of General Meeting
The Board of DS Smith is pleased to announce that, at the General Meeting of DS Smith shareholders held at 9.00am today, the ordinary resolution as set out in the Notice of General Meeting contained in the circular to shareholders dated 9 August 2010 (the "Circular") was passed on a show of hands.
The passing of the resolution will enable DS Smith to proceed with the acquisition, directly and indirectly, of 94.75 per cent. of the share capital of Otor S.A. ("Otor") held by The Carlyle Group as well as shares held by management as described in the Circular. All relevant antitrust clearances have been received and the Board expects the acquisition to complete on 1 September 2010. Following the acquisition, DS Smith intends to file a mandatory offer for all the Otor shares held by the public in accordance with the applicable regulatory provisions. This offer will be made in the form of a simplified offer followed by a mandatory squeeze out.
Copies of the resolution passed at the General Meeting will be submitted to the UK Listing Authority and will shortly be available for inspection during normal business hours on any business day at the UK Listing Authority's Document Viewing Facility, which is located at: Financial Services Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS; telephone +44 (0)20 7066 1000.
Details of the proxy votes received will shortly be available on the DS Smith website (www.dssmith.uk.com).
Definitions in this announcement are consistent with those set out in the Circular, a copy of which is available on DS Smith's website.
DS Smith Plc
Miles Roberts, Group Chief Executive
Steve Dryden, Group Finance Director
Rachel Stevens, Head of Investor Relations
+44 (0)1628 583 400
J.P. Morgan Cazenove
+44 (0)20 7742 4000