12th Oct 2005 15:57
Reliance Security Group PLC12 October 2005 Reliance Security Group plc ("Reliance") Return of Cash to Shareholders The Directors of Reliance have now agreed the structure for the previouslyannounced cash return to shareholders of approximately £10 million. It isexpected that, subject to shareholder approval, this will be effected by anon-market tender offer to shareholders to acquire part of their holdings forcash. Full details of the proposals (including a notice convening an extraordinarygeneral meeting) are expected to be posted to shareholders with the interimstatement shortly after the announcement of Reliance's interim results and theend of the related close period. This announcement is currently scheduled for 1December 2005 and it is expected that the tender offer will be made immediatelythereafter, conditional upon the passing of the necessary authorising specialresolution. In this way, it should be possible to distribute the tender saleproceeds to accepting shareholders within the next three months. The price atwhich the tender offer is made will be determined immediately prior to posting. Note: Reliance is an established market leader in the provision of contract security,facilities management, support services and in business process outsourcing.Reliance employs over 12,000 people from a network of offices throughout the UK. Enquiries: Brian Kingham 020 7730 9716Chairman Neil French 01895 205002Group Finance Director This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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