12th Oct 2009 07:00
NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES
Statement re press speculation
Following the announcement on 9 October 2009, JJB Sports plc ("JJB Sports" or the "Company") notes the further speculation regarding a capital raising and rumours in relation to its Executive Chairman, Sir David Jones.
The Company confirms that it continues the process of finalising arrangements for an equity issue to raise £100 million. The Company is pleased by the level of interest shown by investors during pre-marketing last week, with indications of interest in excess of three times the size of the proposed capital raising.
The proposed launch of the capital raising was initially delayed as a result of a technical matter which arose on Thursday evening and was resolved on Friday morning with the full co-operation of the UK Listing Authority. The Company would like to make it clear that the UK Listing Authority did not block the process as incorrectly reported in the press.
During the course of Friday morning, the Company was made aware of rumours that were circulating in the press and financial markets in relation to Sir David Jones' personal financial affairs and decided to delay the proposed capital raising until it had the opportunity to further investigate these rumours. The Board has now concluded its investigation and found these rumours to be totally unfounded. The Board is very concerned by the timing and concerted nature of these rumours and has passed on full details, with the results of its investigation, to the relevant regulatory authorities.
The Board remains fully supportive of Sir David Jones and committed to proceeding with a capital raising.
Contacts
|
Maitland |
Tel: +44 (0)20 7379 5151 |
|
Neil Bennett |
|
|
Emma Burdett |
This announcement does not constitute or form part of any offer or solicitation to purchase or subscribe for securities in the United States or any other jurisdiction. Securities may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended (the "Securities Act"), or an exemption from, or in a transaction not subject to, registration. The Company has not registered and does not intend to register any securities under the Securities Act and does not intend to offer any securities to the public in the United States.
Related Shares:
JJB.L