5 May 2009 16:23
5 May 2009
Styles & Wood Group plc
Offer Talks Terminated
On 24 March 2009 the Board of Styles & Wood Group Plc ("Styles & Wood" or the "Company") announced that it was currently exploring a number of options to strengthen its balance sheet including a potential equity fund raising and a potential sale to private equity following a period of increased ongoing investment in working capital.
On 30 April 2009 the Company announced a substantial refinancing designed to put it on a solid financial footing and provide it with the requisite cash and debt resources to trade through the current economic cycle.
Consequently the Company is no longer examining a potential sale and has ceased all talks with potential acquirers. Accordingly, the Company is no longer in an offer period pursuant to the City Code on Takeovers and Mergers.
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For further information, please contact:
| Styles & Wood Group plc | Tel: 0161 926 6000 |
| Ivan McKeever, CEO | |
| Graham Clark, Group Finance Director | |
| Financial Dynamics | Tel: 020 7831 3113 |
| Billy Clegg / Georgina Bonham / Alex Beagley | |
| Shore Capital and Corporate Limited | Tel: 020 7408 4090 |
| Guy Peters/Edward Mansfield |