21 Apr 2011 13:22
21 April 2011
JJB Sports plc
Company Voluntary Arrangements: Expiry of Statutory Challenge Period
On 22 March 2011, JJB Sports plc ("JJB" or the "Company") announced that the unsecured creditors and shareholders of the Company and its wholly owned subsidiary, Blane Leisure Limited ("Blane"), had approved the terms of company voluntary arrangements proposed by the directors of the Company and Blane (the "CVA Proposal").
On 23 March 2011, the Company announced that, under the terms of the CVA Proposal, the First Effective Date had occurred. In accordance with its terms, full implementation of the CVA Proposal remains subject to the satisfaction of certain conditions precedent, including the expiry of a 28 day period, during which a challenge could be made to the relevant courts under the applicable insolvency regime (the "CVA Challenge Period"). The CVA Challenge Period expired at midnight on 20 April 2011, without any such challenge being made.
Full implementation of the CVA Proposal is now only conditional upon completion of the firm placing and placing and open offer proposed by the Company pursuant to the prospectus published on 6 April 2011.
For further information, please contact:
JJB Sports plc 01942 221 400
Mike McTighe
Keith Jones
Maitland 020 7379 5151
Neil Bennett
Richard Farnsworth
KPMG 020 7694 8527
Sorrelle Cooper
About JJB Sports
JJB Sports plc (JJB: LSE) is one of the UK's leading sports retailers. The Group, headquartered in Wigan and today listed on the Main Market of the London Stock Exchange, currently trades from 244 JJB branded retail stores in the UK and Ireland and employs over 6,000 people. Further information about the Group can be found on the Group's corporate website, www.jjbcorporate.co.uk.