Offer7 Dec 2009 13:39
MAMA Group plc has noted the announcement this morning by SMS Finance S.A. ("SMS") of a cash offer to acquire the entire issued and to be issued share capital of MAMA not already held by SMS at a price of 3.7 pence per share. The offer is unsolicited.
The Board of MAMA unanimously believes that this offer is highly opportunistic and significantly undervalues MAMA and will recommend that shareholders take no action and reject the offer, when it is made.