TIDMSFE

RNS Number : 3278R

Safestyle UK PLC

26 October 2023

26 October 2023

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

Safestyle UK plc

("Safestyle" or the "Company" and together with its subsidiaries, the "Group")

Process Update

Safestyle UK plc (AIM: SFE.), the leading UK focused retailer and manufacturer of PVCu replacement windows and doors for the homeowner market, provides an update on the process it outlined in its announcement on 10 October 2023 (the "Announcement").

In the Announcement, the Company confirmed that it was in a process which may include a capital injection or new financing, a potential sale of the shares in the subsidiaries and/or a sale of the business and assets of the subsidiaries (the "Process").

Based on discussions to date, the Company does not expect to be in receipt of a capital injection or new financing into Safestyle.

However, the Directors are in active discussions with a shortlist of interested parties as part of the Process. These discussions focus on a sale of some or all of the Group's business and assets (a "Proposed Sale"). The Company is working with these parties towards concluding these discussions as quickly as possible.

There can be no guarantee that these negotiations will result in the completion of a Proposed Sale, and, even if a Proposed Sale does complete, there can also be no certainty on the timings or level of return, if any, to shareholders.

Further announcements will be made as and when appropriate.

For further information:

 
 Safestyle UK plc                              via FTI Consulting 
  Rob Neale, Chief Executive Officer 
  Phil Joyner, Chief Financial Officer 
 Zeus (Nominated Adviser & Joint Broker)       Tel: 0203 829 5000 
  Dan Bate / James Edis (Investment Banking) 
  Dominic King (Corporate Broking) 
 Liberum Capital Limited (Joint Broker)        Tel: 0203 100 2100 
  Jamie Richards / William King 
 FTI Consulting (Financial PR)                 Tel: 0203 727 1000 
  Alex Beagley / Sam Macpherson / Amy Goldup

About Safestyle UK plc

The Group is the leading retailer and manufacturer of PVCu replacement windows and doors to the UK homeowner market. For more information please visit www.safestyleukplc.co.uk or www.safestyle-windows.co.uk .

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

FURMABJTMTTTTPJ

(END) Dow Jones Newswires

October 26, 2023 02:00 ET (06:00 GMT)

Safestyle Uk (LSE:SFE)
Historical Stock Chart
From Oct 2024 to Nov 2024 Click Here for more Safestyle Uk Charts.
Safestyle Uk (LSE:SFE)
Historical Stock Chart
From Nov 2023 to Nov 2024 Click Here for more Safestyle Uk Charts.