Discussions Terminated
September 10 2003 - 9:20AM
UK Regulatory
RNS Number:6120P
SSL International PLC
10 September 2003
10th September 2003
SSL International plc ("SSL")
Discussions Terminated by SSL Board
In July, SSL announced that it was in preliminary discussions which may or may
not lead to an offer for the Group. These discussions have not resulted in a
proposal being made to the Board of SSL and accordingly the Board has terminated
discussions.
SSL is continuing to pursue its stated strategy with vigour. It is continuing to
build on the brands that make up its consumer business and grow their sales,
develop new products and cut costs to meet and beat industry benchmarks. This
strategy is already proving to be successful. Trading in the first five months
of the current year has been in line with earlier expectations and remains on
course to achieve targets for the full year.
The Group's disposal programme continues to advance well. Further announcements
are expected in due course.
Commenting, Chairman Ian Martin said, "In the absence of any formal proposal to
the Board we have terminated discussions. To prolong uncertainty any further is
not in shareholders' interests.
During this period of discussions we have continued to build the business,
including developing and launching successful new products. I am pleased our
medical disposal programme is proceeding on course and will enable us to focus
single-mindedly on exploiting the promise of our consumer business."
For further information:
SSL International plc 020 7367 7560
Garry Watts, Group Finance Director
The Maitland Consultancy 020 7379 5151
William Clutterbuck/Brian Hudspith
This information is provided by RNS
The company news service from the London Stock Exchange
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