MBL Group PLC Strategic Review Update (8922U)
January 24 2017 - 1:00AM
UK Regulatory
TIDMMUBL
RNS Number : 8922U
MBL Group PLC
24 January 2017
24 January 2017
MBL Group PLC
("MBL" or the "Company")
Strategic Review Update
Set out below is a copy of the letter that the Company sent to
shareholders on 23 January 2017:
"Dear Shareholder,
We thought it would be helpful to provide you with an update as
to the progress that we have made so far in relation to the
strategic review.
We have been keen to ensure that the Company gets the best value
it can and so have spoken to a number of corporate finance houses
and asked them to provide us with fee quotes for the work that
needs to be done regarding the proposed sale of the Company's
trading subsidiaries. We are in the process of reviewing those
quotations and will be appointing an adviser very shortly.
In the meantime we have started to collate the information that
we know will be asked for by prospective purchasers so that we have
this to hand when we start the formal sales process. We have also
been discussing with our legal and accounting advisers what, if
any, changes need to be made to the Group's structure to make sure
that it is in the best shape possible for a sale. This work is
ongoing.
I am also pleased to let you know that we have had expressions
of interest from a number of parties for each trading subsidiary.
Whilst we will instruct a corporate finance adviser to work with us
in managing and running a formal sales process, it would also be
helpful to know if you may be interested in acquiring either of the
Company's trading subsidiaries. If you are could I please ask that
you formally confirm your interest in writing to me or my
colleague, Peter Palframan, by no later than 6 February 2017, so
that we can ensure that you are included in the process. You can
contact either of us on email or by writing to me at the Company's
registered office. Our contact details are as follows:
tim.jackson-smith@mblgroup.co.uk
ppalframan@btinternet.com
We look forward to hearing from you.
Yours sincerely
Tim Jackson-Smith
Chairman"
A copy of the letter will be available on the Company's website,
www.mblgroup.co.uk, from today.
ENDS
For further information, please contact:
MBL Group plc Tel: 01772 440440
Tim Jackson-Smith / Peter Palframan
SPARK Advisory Partners Limited Tel: 0113 370 8970
(NOMAD)
Sean Wyndham-Quin
Mark Brady
This information is provided by RNS
The company news service from the London Stock Exchange
END
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