Atlantic Global Plc: Update on Formal Sale Process
December 02 2011 - 2:00AM
UK Regulatory
TIDMATL
Atlantic Global Plc
("Atlantic Global" or "the Company")
Update on Formal Sale Process
Since the announcement on 29 September 2011 of a Formal Sale Process pursuant to
Note 2 of Rule 2.6 of the City Code on Takeover and Mergers the Company has
received approaches from a number of parties. Any interested party who has or
intends to approach the Board has or will be required to enter into a non-
disclosure agreement with the Company on reasonable terms satisfactory to the
Board and on the same terms, in all material respects, as the other interested
parties, before being permitted to participate in the process. The Company has
or will then release an information memorandum to all participants who have
entered into such non-disclosure agreements with the Company. A data room and
discussions with management are also available to such participants.
The Board is currently targeting a deadline for receipt of all indicative
proposals by 21 December 2011 and a decision on whether to proceed with any
party will be taken by the Board in early January 2012. It is intended
that subject to receipt of a satisfactory proposal, a preferred bidder will then
be selected and given a period of exclusivity of up to four weeks to complete
any additional confirmatory due diligence and documentation.
The Board reserves the right to alter any aspect of the sale process as outlined
above or to terminate it at any time and in such cases will make an announcement
as appropriate. The Board reserves the right to reject any approach or terminate
discussions with any interested party or participant at any time. There can be
no certainty that any offer will be made for the Company, or even proposed, or
as to the level of any proposal or offer that may be made.
- Ends -
Atlantic Global Plc
Eugene Blaine, Managing Director Tel: +44 (0) 1274 863 300
Rupert Hutton, Finance Director
eugene.blaine@atlantic-global.com
rupert.hutton@atlantic-global.com www.atlantic-global.co.uk
Daniel Stewart & Company plc
Paul Shackleton /Noelle Greenaway, Nominated Advisers Tel: +44 (0) 207 776 6550
Martin Lampshire / Sean Lunn, Corporate Broking
ICON Corporate Finance
Alan Bristow Tel: +44 (0) 207 152 6375
Simon Moynagh
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Atlantic Global Plc via Thomson Reuters ONE
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