11 Oct 2010 11:35
Best of the Best plc
("Best of the Best" or "the Company")
Trading Update
Best of the Best today announces that its contracts with BAA Limited have been terminated.
The airports company has advised that it will be using the space currently used by Best of the Best to provide more seating, signage and information for passengers.
BAA has been a minority shareholder in the Best of the Best Plc since 2001, helping build the Company into a successful, profitable AIM listed business operating in 14 sites in the UK and Europe. Best of the Best currently operates at four BAA airports.
It is, therefore, with great regret that the Directors of Best of the Best have learnt of the decision by BAA Airports Limited to terminate its contracts.
Best of the Best has for the past ten years provided a unique category of retail experience to BAA's passengers, and has performed strongly as a successful and growing retail operator. It is deeply regrettable that this relationship will be coming to an end.
BAA's decision has significant operational implications for the Best of the Best, and the Directors have worked closely with the BAA in the spirit of our long term relationship to effect an orderly termination of the contracts.
In the light of recent events, the Directors will be undertaking a strategic and operational review of the business and of the options available to maximise shareholder value. The Board will update shareholders in due course.
Enquiries:
| Best of the Best plc | William Hindmarch, Chief Executive Rupert Garton, Commercial Director | T: 020 7371 8866 |
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| Biddicks | Shane Dolan | T: 020 7448 1000 |
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| Charles Stanley Securities Nominated Adviser | Mark Taylor/Luke Webster | T: 020 7149 6000 |
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Please visit www.botb.com for further information