Styles & Wood Group Regulatory News (STY)

5 May 2009 16:23



5 May 2009

Styles & Wood Group plc

Offer Talks Terminated

On 24 March 2009 the Board of Styles & Wood Group Plc ("Styles & Wood" or the "Company") announced that it was currently exploring a number of options to strengthen its balance sheet including a potential equity fund raising and a potential sale to private equity following a period of increased ongoing investment in working capital. 

On 30 April 2009 the Company announced a substantial refinancing designed to put it on a solid financial footing and provide it with the requisite cash and debt resources to trade through the current economic cycle.

Consequently the Company is no longer examining a potential sale and has ceased all talks with potential acquirers. Accordingly, the Company is no longer in an offer period pursuant to the City Code on Takeovers and Mergers. 

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