Statement re Press Comment

1 Sep 2006 15:26

Torex Retail PLC01 September 2006 1 September 2006 Torex Retail plc ("Torex Retail", "Company" or "Group") Statement re. Press Comment The Board of Torex Retail has noted recent press comment speculating on thepossibility of an offer being made for the entire issued share capital of theCompany. Torex Retail confirms that, following an unsolicited enquiry from athird party, the Board agreed that exploratory discussions concerning a possibletransaction could be held, but that these discussions have now been terminatedby mutual agreement. Torex Retail's entire management team remains wholly committed to deliveringvalue for its shareholders and is continuing to focus on its declared strategyof strong organic growth having completed the acquisition-led phase of itsdevelopment. The Group's trading continues to be in line with expectations and, with a strongpipeline, the Board remains confident of its prospects. Furthermore, theGroup's net bank borrowings, currently near their seasonal peak, are expected toreduce during the remainder of the year with new business wins, rolloutcompletions and the annual renewal of maintenance contracts. - Ends - Enquiries: Citigate Dewe Rogerson +44 (0)20 7638 9571Ginny Pulbrook / Seb Hoyle / Lucie Holloway This information is provided by RNS The company news service from the London Stock Exchange