WALKER GREENBANK PLC
14 July 1999
The board of Walker Greenbank PLC has noted the recent press
speculation which has fuelled movements in its share price.
The board has recently received a tentative approach from
parties associated with Charles Wightman, the former Chief
Executive of the company, which may have led to an offer being
made for the issued share capital of Walker Greenbank. This
approach, which was backed by a private equity investor, was
only at a modest premium to the then current share price and
was lower than today's mid-market price of 65.5p.
Accordingly, the board rejected this approach which it felt
did not fairly reflect the operational improvements currently
being made by Walker Greenbank, its asset value, or the
prospects for the group.
The board has appointed KPMG Corporate Finance to advise it in
this matter.
The board continues with its strategy to deliver shareholder
value and confirms that it has recently made planning
applications in Leicestershire relating to various sites, some
of which could become surplus to the company's requirements as
a result of its reorganisation plans.
Enquiries to:-
Aidan Connolly 0144 223 4666
Chief Executive
Walker Greenbank PLC
John Rudofsky 0207 638 9571
Citigate Dewe Rogerson
Dick Barlow 0207 311 8051
KPMG Corporate Finance