ARG.L Regulatory News (ARG)

5 Dec 2007 07:01

ArmorGroup International plc05 December 2007 ArmorGroup International plc Acquisition update ArmorGroup International plc ("ArmorGroup"), the leading international providerof protective security services, today announces that, as cautioned last week,it will be unable to progress the strategic acquisition that has been thesubject of extensive discussions for some months. The Board believes that the reduced availability of acquisition debt followingrecent developments in the credit markets and the fall in the company's shareprice following its trading update last week currently make the funding of theacquisition uneconomic. As previously reported by the Group, this inability to progress the acquisitionwill result in the Group having to write off approximately $2 million ofprofessional fees incurred on the due diligence and contract negotiations in thecurrent financial year. For further enquiries please contact: ArmorGroup International plc Christopher BeeseChief Administrative OfficerTel: +44 (0) 20 7808 5800 Patrick Toyne SewellDirector of CommunicationsTel: +44 (0) 20 7808 5848Mob: +44 (0) 7767 498 195 / 7920 530 521Email: ptoynesewell@armorgroup.com Notes to Editors ArmorGroup International plc For over 25 years ArmorGroup has been recognised as a leading provider ofdefensive, protective security services to national governments, multinationalcorporations and international peace and security agencies operating in hostileenvironments. ArmorGroup provides protective security services, risk managementconsultancy, security training and mine action services. It has 9,000 highlytrained and experienced employees and operations in 38 countries. ArmorGroupInternational plc is headquartered in London and listed on the London StockExchange. It complies with the US Foreign and Corrupt Practices Act, 1997 andthe UK's Anti-Terrorism, Crime and Security Act, 2001 and has also beencertified to ISO 9001:2000 and to ISO/IEC 27001:2005. For more informationplease visit www.armorgroup.com. This information is provided by RNS The company news service from the London Stock Exchange