9 Nov 2017 07:00
9 November 2017
St Peter Port Capital Limited
(the "Company")
Conclusion of Strategic Review
Further to the announcement on 3 October 2016, the Board initiated a review of strategic options open to the Company to maximise value for shareholders, including a potential sale of the Company, individual holdings owned by the Company or collections of sector-related holdings (the "Strategic Review").
Over the period since the Strategic Review began a few very early stage discussions took place which did not lead to any viable offers being received. The Company is not now in active discussions with any third party in relation to a corporate transaction, such as a merger with or a sale of the Company.
As such the Formal Sale Process has now been terminated. The Company has concluded the Strategic Review and expects that the best route to achieve maximum shareholder value is through continuing to seek opportunities to realise its investments in its remaining assets in an orderly manner. The Company is therefore no longer in an offer period for the purposes of the Takeover Code and, accordingly, the requirement to make disclosures under Rule 8 of the Code has now ceased.
The Board remains committed to trying to deliver value to shareholders through disposals of the investments within the Company's portfolio which it hopes will secure potential gains, but remains open to alternatives should they arise.
For further information:
St Peter Port Capital Limited
Lynn Bruce, Director
+44 (0) 1481 724 222
Grant Thornton UK LLP (Nominated Adviser)
Philip Secrett
Jamie Barklem
Carolyn Sansom
+44 (0) 20 7383 5100