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RNS Number : 1030V

Blacks Leisure Group PLC

06 January 2012

Blacks Leisure Group plc

("Blacks Leisure" or the "Company" or, together with its subsidiaries, the "Group")

Suspension of trading in the ordinary shares and proposed appointment of administrators

On 23 December 2011, the Company announced that a number of parties had submitted indicative offers to acquire the whole or substantially all of the trade, assets and brands of the Group.

Since that date, the Company and its advisers have continued to hold discussions with a number of selected parties who have now submitted their final offers, which include offers to acquire substantially all of the trade, assets and brands of the Group. Based on the level of final offers received and as previously foreshadowed in the announcement on 23 December 2011, no value will be attributable to the Company's ordinary shares.

The Board has now determined that any sale of the trade, assets and brands will be effected through an administration process. Therefore it is expected that the process to commence the appointment of administrators of the Company and certain of its subsidiaries will begin shortly although the actual appointments are only likely to take effect just before the completion of any such sale. The operating subsidiaries of the Group will therefore continue to trade through all outlets outside of an administration pending any sale. It is proposed that Brian Green, Richard Fleming and David Costley-Wood, partners of KPMG LLP, will be appointed as the administrators.

The Company's ordinary shares have been suspended from trading on the London Stock Exchange with immediate effect.

The Company expects to be in a position to announce a sale of substantially all of the trade, assets and brands of the Group within the next few days.

A further announcement will be made in due course.

Enquiries:

 
 Blacks Leisure           Tel: 01604 597 222 
 Peter Williams 
 
 Citigate Dewe Rogerson   Tel: 020 7638 9571 
  Simon Rigby 
 Kevin Smith 
 
 Singer Capital Markets   Tel: 020 3205 7500 
  Ltd 
 Claes Spang

A copy of this document will be published on the Company's website at www.blacksleisure.co.uk as soon as possible.

KPMG Corporate Finance, a division of KPMG LLP which is authorised and regulated by the Financial Services Authority for investment business activities, is acting for Blacks Leisure as financial adviser in relation to the formal sale process for Blacks Leisure and is not acting for any other person in relation to such sale . KPMG Corporate Finance will not be responsible to anyone other than Blacks Leisure for providing the protections afforded to its clients or for providing advice in relation to the contents of this announcement or any arrangement referred to herein.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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