Abrdn Property Regulatory News (API)

13 Apr 2005 09:26

API Group PLC13 April 2005 13 April 2005 FOR IMMEDIATE RELEASE API Group plc ("API or "the Company") On 11 February 2005, the Board of API announced that it had received apreliminary approach, which may or may not have led to an offer being made forthe Company. Detailed discussions have been held with the interested party butthose discussions have now been terminated. As a result, with immediate effect,the Company is no longer in an offer period for the purpose of the City Code onTakeovers and Mergers. David Hudd, the Chairman of API, commented: "The Board and the executivemanagement team are pleased that this period of uncertainty is now over. TheBoard believes that the Company has strong positions in attractive markets andhas an experienced and proven management team to enable it to pursue itsbusiness strategy. Accordingly, the Directors are confident of the Company'sability to deliver an appropriate return to shareholders as an independententity." Enquiries David Walton, Chief ExecutiveAPI Group plc 020 7653 3300 Tim SprattFinancial Dynamics 020 7831 3113 Peter AlcarazClose Brothers 020 7655 3100 This information is provided by RNS The company news service from the London Stock Exchange