Spire Healthcare Share News (SPI)

TIDMSPI RNS Number : 6205N Spice PLC 15 June 2010 ? +-----------------------------------------------------------------+ | NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN | | PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD | | CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH | | JURISDICTION. | +-----------------------------------------------------------------+ | | +-----------------------------------------------------------------+ | PRESS ANNOUNCEMENT | +-----------------------------------------------------------------+ | | +-----------------------------------------------------------------+ | FOR IMMEDIATE RELEASE | +-----------------------------------------------------------------+ | | +-----------------------------------------------------------------+ | 15 June 2010 | +-----------------------------------------------------------------+ | | +-----------------------------------------------------------------+ | SPICE PLC ("SPICE" OR "THE COMPANY") | +-----------------------------------------------------------------+ | | +-----------------------------------------------------------------+ | RESPONSE TO CINVEN ANNOUNCEMENT | +-----------------------------------------------------------------+ | | +-----------------------------------------------------------------+ | The Board of Spice notes the announcement issued today by | | Cinven Limited ("Cinven") in relation to its interest in a | | possible offer for Spice. | | | | We believe this approach significantly undervalues Spice, and | | the Board has not entered into discussions with Cinven, or any | | other party, in relation to a potential offer for Spice. | | | | Spice has recently appointed Martin Towers as Chief Executive | | on a permanent basis and has communicated a clear set of | | objectives to enhance value for shareholders in the short term. | | We've made excellent progress in executing these objectives, | | including the recent disposals of the Telecoms and Gas | | businesses, reducing the level of indebtedness and identifying | | specific restructuring and reorganisation actions to continue | | to drive cost out of the Group. The strategic review in | | relation to the Facilities business is ongoing. The outcome of | | this review is expected to result in the Group's core | | operations being focused on markets which have strong | | underlying regulatory and environmental drivers. These actions | | leave the Group well positioned for the new financial year and | | beyond. | | | | The Board believes that the approach from Cinven is | | opportunistic and significantly undervalues the Company. Spice | | is trading in line with the Board's expectations, and our | | priority remains enhancing shareholder value. The Board is | | confident that Spice can deliver significant value to | | shareholders over the medium term. | | | | The Group expects to announce its results for the year to end | | April 2010 on 6 July 2010. | | | +-----------------------------------------------------------------+ | In accordance with Rule 2.10 of the City Code on Takeovers and | | Mergers, Spice confirms that it has 352,184,980 ordinary shares | | of 2 pence each in issue and admitted to trading on the London | | Stock Exchange under the UK ISIN code GB00B3CG9C16. | +-----------------------------------------------------------------+ | | +-----------------------------------------------------------------+ | | +-----------------------------------------------------------------+ | | +-----------------------------------------------------------------+ | | +-----------------------------------------------------------------+ | | +-----------------------------------------------------------------+ +--------------------------------+--------------------------------+ | Enquiries: | +-----------------------------------------------------------------+ | Spice Plc | 0113 201 2120 | +--------------------------------+--------------------------------+ | Martin Towers (Chief | | | Executive) | | | Oliver Lightowlers (Group | | | Finance Director) | | +--------------------------------+--------------------------------+ | | | +--------------------------------+--------------------------------+ | Hawkpoint Partners Limited | 020 7665 4500 | +--------------------------------+--------------------------------+ | Chris Robinson | | +--------------------------------+--------------------------------+ | Christopher Kemball | | +--------------------------------+--------------------------------+ | Serge Rissi | | +--------------------------------+--------------------------------+ | | | +--------------------------------+--------------------------------+ | KBC Peel Hunt | 020 7418 8900 | +--------------------------------+--------------------------------+ | Julian Blunt | | +--------------------------------+--------------------------------+ | David Anderson | | +--------------------------------+--------------------------------+ | Simon Brown | | +--------------------------------+--------------------------------+ | | | +--------------------------------+--------------------------------+ | Financial Dynamics | 020 7831 3113 | +--------------------------------+--------------------------------+ | Billy Clegg | | +--------------------------------+--------------------------------+ | Caroline Stewart | | +--------------------------------+--------------------------------+ | | | +--------------------------------+--------------------------------+ | | +-----------------------------------------------------------------+ | | +-----------------------------------------------------------------+ | Hawkpoint Partners Limited, which is authorised and regulated | | in the United Kingdom by the Financial Services Authority, is | | acting as financial adviser to Spice and no-one else in | | connection with the possible offer and will not be responsible | | to anyone other than Spice for providing the protections | | afforded to clients of Hawkpoint Partners Limited nor for | | providing advice in relation to the possible offer or any of | | the matters referred to herein. | +-----------------------------------------------------------------+ | | +-----------------------------------------------------------------+ | KBC Peel Hunt Ltd, which is authorised and regulated in the | | United Kingdom by the Financial Services Authority, is acting | | for the Company and for no-one else in connection with the | | possible offer and will not be responsible to any person other | | than the Company for providing the protections afforded to | | clients of KBC Peel Hunt Ltd or for providing advice in | | relation to the possible offer or any of the matters referred | | to herein. | +-----------------------------------------------------------------+ | | (MORE TO FOLLOW) Dow Jones Newswires June 15, 2010 04:00 ET (08:00 GMT)