24th Sep 2008 07:00
Arden Partners plc
24 September 2008
Arden Partners plc ('Arden' or the 'Company')
Termination of Offer Talks and Trading Update
On 16 May 2008, the board of Arden (the 'Board') announced that it had received preliminary approaches about a possible offer for the Company. The Board now confirms that these discussions are no longer continuing and that the Company is no longer in an offer period for the purposes of the City Code on Takeovers and Mergers.
Due to the deterioration in market conditions, the Board expects a decline in full-year revenue for the year ending 31 October 2008 compared to last year, principally due to lower corporate finance income. The Board now expects to break even in the second half, after share option charges and exceptional costs. The Board expects the cash balance to remain strong.
- Ends -
For further information please contact:
Arden Partners plc 0121 423 8900
Jonathan Keeling
Altium Capital Limited (Rule 3 adviser and NOMAD to Arden) 0207 484 4040
Phil Adams
Buchanan Communications Limited (PR adviser to Arden) 0207 466 5000
Mark Edwards
Related Shares:
ARDN.L