Harrier Group PLC
01 November 2004
Harrier Group PLC
Merger update and trading statement
Merger update
It was announced on 29 July 2004 that the boards of Harrier Group plc
('Harrier') and Articon Integralis AG ('AIAG') were in discussions with a view
to Harrier acquiring the business and certain assets forming the business of
Integralis GmbH, to form Harrier Integralis PLC, a UK holding company which was
to be admitted to trading on AIM. As this transaction was to be classified as a
reverse takeover under the AIM Rules, Harrier's shares were suspended from
trading on AIM pending the publication of an AIM admission document.
On 5 October 2004, it was announced that whist Harrier and AIAG continued to
seek ways of combining their businesses, the original proposal created a number
of concerns amongst a significant minority of AIAG shareholders making it clear
that they would not support that particular transaction. The suspension of
trading in Harrier's shares continued because one of the options was for Harrier
to make an offer for AIAG, which would also be classified as a reverse takeover
under the AIM Rules.
Harrier is continuing to progress discussions with a view to making an offer for
AIAG and accordingly, trading in Harrier's shares will remain suspended.
Trading update
Further to the announcement on 29 July 2004, the board announces that trading in
the three months to 30 September 2004 has been slower than anticipated. Although
the Board has a positive outlook for the remaining year, it is of the view that
profits for the full year will be below its previous expectations.
Contacts:
Jim Stoddart, Harrier Group plc 01256 760 081
Adam Hart/Jonathan Marren, KBC Peel Hunt 020 7418 8900
This information is provided by RNS
The company news service from the London Stock Exchange