Litho Supplies PLC - Chairman's AGM Statement
06 May 1999 - 12:15AM
UK Regulatory
RNS No 7129b
LITHO SUPPLIES PLC
5 May 1999
EXTRACTS FROM CHAIRMAN'S AGM STATEMENT
At today's Annual General Meeting of Litho Supplies plc, the Group's Chairman
John Byford made the following comments:
"Trading is not so different from that which I commented on in the Annual
Report and preliminary results statement in early March. Trading in some
areas of the Group is down, in some areas flat, and there are signs of
improvement in others. I am optimistic that the year will improve in the
third and fourth quarters, reflecting benefits from the 'Millennium effect'.
We are obtaining year on year sales growth, supported by recent acquisitions.
"Much has been achieved at Litho due to the perseverance and doggedness of
management in often trying conditions. I commend their efforts and am
grateful for their loyalty.
"In mid-March the Company announced that it had received an approach from the
executive directors and myself which may or may not lead to an offer being
made for the Group. Not surprisingly, the price jumped from 110p to 145p and
is currently around 145p. I have nothing to add to this position, save that
the directors who made the approach had no intention of being hostile or
adversarial. Given the Stock Market's continued undervaluing of smaller
companies, the directors' approach was made with the interests of the
Company, its shareholders and employee shareholders in mind. That remains
their position."
Enquiries:
John Byford, Chairman
Litho Supplies plc Tel: 0181 950 3080
Tim Spratt, Director
Financial Dynamics Tel: 0171 831 3113
END
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