Shareholders vote to issue more than 5.7m shares at extraordinary general meeting

Shareholders in Telford Homes have today voted for the housebuilder to issue extra shares which will see the company bag an extra £15m.

In a statement to the London Stock Exchange this morning, the housebuilder said shareholders had passed a resolution at an extraordinary general meeting to issue more than 5.7m shares. Priced at 260p the shares will raise £15m.

Telford Homes is a London-based housebuilder, which reported pre-tax profit of £10m on a turnover of £79.3m for the year ending 31 March 2006.