7th Apr 2009 07:00
SPARK Ventures plc
Update on strategic discussions
Over the last few months the Board of SPARK has continued discussions and meetings with Asian strategic investors about an extensive collaboration, and while they continue to express a keenness in principle to invest, the Board today announces that it has concluded that the strategic investment is now no longer likely to complete in the near term. The potential investment had been anticipated to be at a substantial premium to SPARK's current share price.
The SPARK portfolio continues to perform well overall and the Board remains committed to supporting these assets and ensuring the successful management of its third party funds. However, given the ongoing discount of the share price to the net asset value, the Board is now in a process of reviewing alternatives to enhance shareholder value, including ways of returning surplus cash to shareholders.
A further announcement will be made as soon as practicable.
For further information:
SPARK Ventures plc 020 7851 7777
Andrew Carruthers
Collins Stewart Europe Limited
Mark Dickenson, Stewart Wallace 020 7523 8350
Related Shares:
GHS.L