PGR Phoenix Global Resources Plc

RNS Number:5569T
Pavilion Geared Recovery Trust PLC
25 March 2002



PAVILION GEARED RECOVERY TRUST PLC



The Company has today agreed to send a circular to shareholders containing
proposals to permit the Company to make market repurchases of up to 14.99% of
the Zero Dividend Preference shares currently in issue.



The repurchase proposal will be considered at an Extraordinary General Meeting
to be held on 22 April 2002.





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