Business
Termination of Talks
Termination of Talks.
About this update from Restore Plc
[{"type":"text","content":"\n RNS Number : 1702Z Mavinwood PLC 16 September 2009 \n \n\n\n\n\nMavinwood plc ('the Company')\n\nTERMINATION OF POTENTIAL OFFER TALKS\n\nOn 24 August 2009, the Board announced that it had received an expression of interest regarding a possible offer for the entire issued share capital of the Company and emphasised that the discussions were at a preliminary stage and there was no certainty that any offer would be made. The Board confirms that discussions with this party have now ended. Accordingly, the Company is no longer in an offer period for the purposes of the City Code on Takeovers and Mergers (the 'Code').\n\nThe Board is in discussion relating to the potential disposal of Peter Cox, the remaining business in the Emergency Repair Division. In addition, the Company is also considering acquisition opportunities in order to grow its document handling business. \n\nFurther to the announcement made on 29 July 2009, in connection with the new financing arrangements, the Board is expecting the provision of the new capital investment of £6 million (gross) required by its banking arrangements to take place by 30 September 2009, to be effected by means of a subordinated debt facility from Geraldton Services Inc. ('Geraldton'), the Company's principal shareholder. \n\n\nEnquiries:\n\n\n\n\n\nMavinwood plc \nCharles Skinner - Chief Executive \n\n\n\n07966 234075\n\n\n\n\nCollins Stewart Europe Limited\nAdrian Hadden\n\n\n\n020 7523 8350\n\n\n\nThreadneedle Communications\n\n\n\nJohn Coles\n02076539848\n\n\n\n \nThis information is provided by RNSThe company news service from the London Stock Exchange END OTTSFSFDMSUSEEU \n ","length":5017,"tagName":"div"}]