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Last checked at 
16 Sep 2009 14:24
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Mavinwood plcΒ ("the Company")
TERMINATIONΒ OF POTENTIAL OFFERΒ TALKS
On 24 August 2009, the Board announced that it had received an expression of interestΒ regarding a possible offer for the entire issued share capital of the CompanyΒ andΒ emphasised that the discussionsΒ were at a preliminary stage andΒ thereΒ was no certainty that any offerΒ wouldΒ be made.Β The Board confirms that discussions with this party have now ended. Accordingly, the Company is no longer in an offer period for the purposes of the City Code on Takeovers and Mergers (the "Code").
The Board isΒ in discussion relating toΒ theΒ potentialΒ disposal ofΒ Peter Cox,Β the remaining business in theΒ Emergency Repair Division.Β In addition, the Company is also considering acquisition opportunities in order to grow its document handling business.Β
Further to the announcement made onΒ 29 July 2009, in connection with the new financing arrangements,Β the BoardΒ isΒ expecting the provision of the new capital investment of Β£6 million (gross) required by its banking arrangements to take place by 30 September 2009, to be effected by means of a subordinated debt facility from Geraldton Services Inc.Β ("Geraldton"), the Company's principal shareholder.Β
Enquiries:
|
Mavinwood plcΒ Charles Skinner - Chief ExecutiveΒ |
07966 234075 |
|
Collins Stewart Europe Limited Adrian Hadden |
020 7523 8350 |
| Threadneedle Communications | |
| John Coles | 02076539848 |
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