30th Nov 2012 18:09
Tawa plc
30 November 2012
Tawa plc
('Tawa' or the 'Company')
FORMAL SALE PROCESS
The board of Tawa plc announces that the formal sale process it announced on 10 September 2012 has concluded. This process had been initiated alongside the business review announced at the Company's AGM in June 2012. No proposal satisfactory to the board has been received although a number of proposals have been received, including proposals for certain parts of the Group in relation to which discussions may continue.
Commenting on the outcome of the sales process, Gilles Erulin said:
"While no offer for the entire Company satisfactory to the board has been received, this process has been of value in enabling Tawa to benchmark other strategic options and has provided useful insight regarding current and future value of our various assets."
ENDS
Enquiries:
Peel Hunt LLP (Joint Financial Advisor) James Britton Guy Wiehahn
| +44 (0)20 7418 8900 | |
Willis Capital Markets (Joint Financial Advisor) Tony Ursano Stephen Mathews John Philipsz |
+1 212 915 7986 +1 212 915 8178 +44 (0)20 3124 8365 |
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