20th Sep 2006 07:30
Hill & Smith Hldgs PLC20 September 2006 In the prospectus sent to Shareholders on 12 September 2006, the Directorsindicated that they were exploring the possibility of the Company acquiring partof the Vista group (Zinkinvent's principal subsidiary) whilst retaining its 33%holding in Zinkinvent. Progress continues and, in exchange for a period of exclusivity up to 31December 2006 which has been granted to Hill & Smith to finalise the purchase ofVista's US operations, the shareholders in Zinkinvent have agreed to extend thekey elements of the Umbrella Agreement by six months to 31 December 2007. TheUmbrella Agreement governs the terms of Hill & Smith's investment in Zinkinventand its relationship with the other shareholders in Zinkinvent. Completion of atransaction remains subject to due diligence satisfactory to the Board of Hill &Smith. A further announcement will be made in due course. Further information:David GroveGroup Chief ExecutiveHill & Smith Holdings PLCTel: 0121 704 7430 End: 20 September 2006 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Hill & Smith