Petards announces, further to its announcement of 21 December 2012, that a circular convening a general meeting for 25 January 2013 has today been posted to shareholders. A copy of the circular containing the Notice of General Meeting (the "Circular") is available on the Company’s website.|

The General Meeting has been requisitioned by Water Hall Group plc pursuant to section 303 of the Companies Act 2006. Water Hall is the registered holder of 3,259,933 ordinary shares in the Company representing approximately 29.99% of its issued ordinary share capital.

The Independent Directors of the Company strongly urge shareholders to vote their shares AGAINST the resolutions being proposed, as each of them will be doing in respect of their own shares at the General Meeting.

The Circular contains the following statement regarding current trading:

"The Independent Directors still expect the operating performance for the year to 31 December 2012 to be in line with current market expectations and similar to the level achieved in 2011. In addition the Independent Directors remain optimistic about the prospects for an improved performance in the current financial year and beyond."