28 May 2010 07:00
| Press Release |
Brulines Group plc
("Brulines" or "the Group")
Offer talks terminated
On 24 September 2009, Brulines Group plc (AIM:BRU), the market leading provider of real time monitoring systems and data management services for the UK leisure sector, confirmed that it had made a preliminary approach to the Board of Universe Group plc ("Universe") relating to a potential offer for the whole of the issued and to be issued share capital of Universe.
Brulines today announces that it is in discussions with Universe in respect of potential opportunities that exist between the two companies, but that it does not now intend to make an offer for the whole of the issued and to be issued share capital of Universe.
For the purposes of Rule 2.8 of the City Code on Takeovers and Mergers (the "Code"), Brulines reserves the right to announce or participate in an offer or possible offer for the whole of the issued and to be issued share capital of Universe and/or to take any other action which would otherwise be restricted under Rule 2.8 of the Code within 6 months of this announcement:
(i) with the agreement or recommendation of the Board of Directors of Universe; or
(ii) following an announcement of a firm offer or possible offer by or on behalf of a third party for Universe; or
(iii) following the announcement by or on behalf of Universe of a "whitewash" proposal or a reverse takeover (in each case, as defined in the Code); or
(iv) with the consent of the Panel, if there is a material change of circumstances.
Brulines remains a significant shareholder in Universe with 13,209,754 shares, representing 11.52% of the issued share capital of Universe and is supportive of the statement made by Universe in its recent preliminary results announcement that its "Directors remain committed to delivering value to all of the Group's shareholders".
- Ends -
Enquiries:
| Brulines Group plc |
|
| James Dickson, Chief Executive Mark Foster, Finance Director | Tel: +44 (0) 1642 358 800
|
| james.dickson@brulines.com | www.brulines.com |
| Cenkos Securities plc |
|
| Stephen Keys / Camilla Hume | Tel: +44 (0) 20 7397 8900 |
|
| www.cenkos.com |
Media enquiries:
| Abchurch Communications |
|
| Sarah Hollins / Joanne Shears / Mark Dixon mark.dixon@abchurch-group.com | Tel: +44 (0) 207 398 7729 www.abchurch-group.com |
About Brulines
Brulines Group is focused on the provision of real time monitoring systems and data management services for the UK's leisure and petrol forecourt sectors. Since its admission to AIM in 2006, the Group has grown both organically and through a series of strategic acquisitions to give the Group access to key vertical markets. The Group operates two divisions which comprise five key products:
LEISURE DIVISION
| Dispense Monitoring (DMS) | The Group's core product, DMS, is widely used by owners and operators within the UK licensed on-trade, especially the tenanted / leased pub sector. Flow meters connected to draught beer dispense lines send data via an on-site communication panel to a secure central database. Liquid volumes by fount, draught wine or post mix are tracked as they are served, thereby helping customers to maximise sales, service and quality as well as managing their costs . DMS is installed in over 22,000 pubs and manages data for more than one in three UK pubs. |
| i-draught (formerly BQM) | A more recent and rapidly growing product offer is i-draughtTM, an extension of the Group's DMS, which scrutinises the quality of products running through beer lines in a bar; measuring volume, temperature, flow rate and liquid type (e.g. beer, cleaning fluid or water) at the point of dispense. i-draught is the first system to provide effective measurement of true yields on draught products. Actual dispense volumes are compared with till transactions to identify shrinkage from products given away, pilferage and wastage. i-draught measures the precise temperature of every pint as it is dispensed, the time taken to dispense each drink, and automatically identifies the liquid allowing customers to know exactly when lines are cleaned. Wherever they are, customers can stay in control through accessing their information on a secure web site. |
| Gaming Machine Data Services
| The acquisition of Coin Metrics in May 2007 was a strong strategic fit with Brulines' existing Machine Insite business which already provides gaming machine data management and consultancy services to operators within the pub, club and leisure markets. Customers benefit from state-of-the-art real-time data capture and reporting systems that deliver improved machine profitability and operational security. |
| Vending Telemetry
| The Group's subsidiary Vianet is a pan-European provider of telemetry solutions and data applications to the vending industry. Vianet provides services for all vending management needs; from operations, sales, field services, national accounts to senior management.
|
FORECOURT SERVICES DIVISION
| UK Petrol Forecourt Data Services | The Group's wholly-owned subsidiary, Edensure, supplies key management information to independent, multi branded owner, and supermarket petrol forecourt operators in the UK which helps reduce loss of fuel and improve profitability. Edensure provides petrol retailers with an unrivalled level of accuracy in the monitoring and management of their wet stock, using the most sophisticated analytical techniques available worldwide. |
Headquartered in Stockton-on-Tees, Brulines employs more than 240 people.
For further information, please visit www.brulines.com