REG.L Regulatory News (REG)

6 Jun 2006 07:03

Regent Inns PLC06 June 2006 Regents Inns plc Termination of discussions and current trading 6 June 2006 Termination of discussions On 27 April 2006, the Board of Regent Inns plc ("Regent Inns" or "the Company")announced it had received 'an approach which may or may not lead to an offer being made for the Company'. The Board confirms that discussions in relation to this approach have nowterminated. Current trading As noted in the Chairman's interim statement of 7 February 2006, tradingconditions on the High Street were difficult after the New Year and this hascontinued to be the case. Walkabout and Jongleurs have generally tradedrobustly, however, off-peak trading has fallen and, in addition, a small numberof sites have traded below expectations due to particular competition andlicensing challenges. A variety of management actions are being taken to addressthese issues. Regent is well positioned to benefit from improved trading as a result of theFIFA World Cup. The Board is confident of the on-going prospects for Walkabout and Jongleurs andcontinues to seek value-enhancing consolidation opportunities. The Board will update the market on current trading in the form of a pre-closetrading statement in July. -ends- Enquiries:Merlin 020 7653 6620Vanessa Maydon 07802 961 902Rebecca Penney 07795 108 178 Dawnay, Day Corporate Finance LimitedJonathan Garbett 020 7509 2317 Panmure Gordon & CoTim Linacre 020 7614 8300 This information is provided by RNS The company news service from the London Stock Exchange