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British Security Group Limited Announces Dividend
(i) On 4th April 2003 the Company declared and paid a dividend in specie to the Company's shareholders of record, namely, Tristar Fire and Tristar Corporation resulting in a reduction in the Company's percentage of ownership in EOI Sykes and EOI Fire (the "Underlying Subsidiaries") from the 95% as disclosed in the Information Memorandum dated 26th July 2002, to 89.97% and 88.12% respectively; and
(ii) 4th April 2003, BSG effected a corporate re-organisation of the Underlying Subsidiaries of BSG by establishing two new wholly owned subsidiary Luxembourg companies to hold the Underlying Subsidiary shares formerly held directly by BSG.
As part of the above, BSG as a shareholder in the new Luxembourg companies, has entered into two separate shareholders agreements. These shareholders agreements are between BSG, Tristar Corporation, Tristar Fire, the new Luxembourg companies and the minority shareholders of the new Luxembourg companies.