PEEL HOLDINGS PLC
29 September 1999
AGM STATEMENT
As you know there was an announcement on the 10th March earlier this year that
consideration was being given to taking the Company private, but that the
process was at an early stage and the level of any offers had not been decided.
After extensive discussions, the Board has concluded that it is not currently
possible to frame proposals that would be satisfactory to all parties and
discussions relating to taking the Company private have therefore ceased. The
Board is however, looking at the long term funding of the Group and at a
possible securitisation of some of our property assets. We will be able to
announce our conclusions on this exercise in the near future.
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