Statement re possible offer (8042C)
11 March 2011 - 11:06PM
UK Regulatory
TIDMJJB TIDMJD.
RNS Number : 8042C
JJB Sports PLC
11 March 2011
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT IS NOT FOR
RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN
WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA,
JAPAN, NEW ZEALAND, SWITZERLAND, SOUTH AFRICA AND THE UNITED ARAB
EMIRATES AND SHOULD NOT BE DISTRIBUTED IN, FORWARDED TO OR
TRANSMITTED INTO ANY JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A
VIOLATION OF LOCAL APPLICABLE SECURITIES LAWS OR REGULATIONS.
11 March 2011
JJB Sports plc
Statement re possible offer
JJB Sports plc ("JJB" or the "Company") notes the announcement
by JD Sports Fashion plc ("JD Sports") this morning that it is no
longer considering pursuing an offer for the Company.
The Board welcomes the clarification by JD Sports of its
position which will enable the Company to continue to focus
exclusively on delivering its standalone restructuring plan with
the support of its stakeholders. The Board considered JD Sports'
indicative proposal to be highly conditional and lacking sufficient
certainty to be deliverable.
Mike McTighe, JJB Chairman, said: "We welcome today's
clarification from JD Sports. JJB's restructuring continues as
planned with the whole management team focused on and committed to
delivering a stable standalone future for JJB and its employees.
The Board remains confident that with the support of our
stakeholders we can achieve a successful turnaround of the
business."
The Company currently expects to provide further details of its
revised business plan, anticipated funding requirements and
proposed financing arrangements on or around 15 March 2011.
Enquiries:
JJB 01942 221400
Mike McTighe
Keith Jones
Lazard 020 7187 2000
Melanie Gee
Aamir Khan
Maitland 020 7379 5151
Neil Bennett
Richard Farnsworth
Lazard & Co., Limited, who is authorised and regulated in
the UK by the Financial Services Authority, is acting for JJB and
no-one else in connection with the possible offer and will not
regard any other person as a client in relation to the possible
offer and will not be responsible to anyone other than JJB for
providing the protections afforded to its clients or for providing
advice in relation to the possible offer or any matters referred to
in this announcement.
About JJB Sports
JJB Sports plc (JJB: LSE) is one of the UK's leading sports
retailers. The Group, headquartered in Wigan and today listed on
the Main Market of the London Stock Exchange, currently trades from
246 JJB branded retail stores in the UK and Ireland and employs
over 6,100 people. Further information about the Group can be found
on the Group's corporate website, www.jjbcorporate.co.uk.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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