JUSH Justice Hldgs

TIDMJUSH

RNS Number : 8792Q

Justice Holdings Limited

26 October 2011

Justice Holdings Limited

Symbol: JUSH

26 October 2011

Interim Management Statement

Justice Holdings Limited ("Justice" or the "Company") today publishes its interim management statement for the period since incorporation on 7 February 2011 to 26 October 2011.

Justice was admitted to the London Stock Exchange (the "Admission") on 17 February 2011, raising gross proceeds of GBP900.0 million in its initial public offering ("IPO"). As set out in the Justice Holdings Limited Prospectus dated 14 February 2011 (the "Prospectus"), the Company was formed with the strategy of acquiring a target business which is expected to have an enterprise value of between GBP1.0 billion and GBP7.0 billion, though a target business with a smaller or larger enterprise value may be considered. The Company's efforts in identifying a prospective target business are not limited to a particular industry or geographic region. The Board of Directors (the "Board") continues to implement the Company strategy and is in the process of reviewing a number of acquisition targets. The current macro-economic uncertainty has created a considerable number of opportunities for the Company, but the Company will remain disciplined in only preceding with an acquisition that it believes can produce attractive returns to its shareholders.

As at 30 September 2011, Justice had 90,057,000 ordinary shares in issue, and cash and cash equivalent balances of approximately GBP882.8 million (equivalent to GBP9.80 per ordinary share). The net proceeds from the IPO are easily accessible when required. To mitigate against the risk of default by one or more of its counterparties, the Company currently holds its assets in instruments available from the Sterling denominated money markets and/or at commercial banks that are at least AA rated or better at the time of deposit. As of 30 September 2011, approximately GBP869 million was held in UK government-backed investments meeting the terms of the Sterling denominated money markets as described in the Prospectus. The Company anticipates that it will continue to hold the bulk of its assets in UK government-backed investments until an acquisition is consummated.

As a result of the Founder Shares, Founder Securities and Director matching share arrangements outlined in the Company's Prospectus, the Company recognized a non-cash charge of GBP41.5 million in the Company's income statement for the period from inception to 30 September 2011 in accordance with International Financial Reporting Standards. Other net cash costs incurred by the Company of GBP19.3 million include the costs of the Admission, administrative and acquisition related expenses for target assessments, offset by finance income.

The Company intends to next update the market when it announces its results for the period from inception to 31 December 2011 during March 2012.

Other than as described above, there have been no material events or transactions, nor any material change in the underlying financial position of the Company, during the period.

For more information please contact:

International Administration (Guernsey) Limited

Company Secretary

Attn: Mark Woodall

Tel: +44 1481 723450

A copy of the Prospectus has been submitted to the National Storage Mechanism and is available for viewing at: www.hemscott.com/nsm.do.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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