AEA Technology Group PLC AGM Statement (5667M)

TIDMAAT

RNS Number : 5667M

AEA Technology Group PLC

19 September 2012

AEA TECHNOLOGY GROUP PLC ("AEA or "Group")

AGM STATEMENT AND TRADING UPDATE

At the AGM to be held today at 09.00am, Paul Golby, Chairman will make the following statement.

"Trading for the year to date remains in line with the Board's expectations.

Trading conditions remain challenging but good progress is, nevertheless, being made in the implementation of the business plan.

The recently secured additional short term funding is allowing the Board to continue to consider all strategic options to realise value. We have ongoing and constructive discussions with a number of interested parties. As previously announced, the Board does not envisage there will be offers for the share capital of the Company.

While these discussions remain on-going, the situation remains such that the existing level of the Group's net debt and the level the Group retirement benefit obligations are considerably greater than the likely value of the Group's business as a whole. Therefore, as previously announced, the Board remains of the view that such options will result in little or no value for Shareholders.

The Board will provide further updates in due course."

For further information:

AEA Technology Group plc 0870 190 8137

Dr Paul Golby, Chairman

John Lowry, Interim CEO

Kevin Higginson, CFO

IR Focus

Neville Harris Neville.Harris@irfocus.co.uk

Important Information

Statements contained in this Trading Update are based on the knowledge and information available to the Company's directors at the date it was prepared and therefore the facts stated and views expressed may change after that date. By their nature, the statements concerning the risks and uncertainties facing the Company in this Trading Update involve uncertainty since future events and circumstances can cause results and developments to differ materially from those anticipated. To the extent that this Trading Update contains any statement dealing with any time after the date of its preparation such statement is merely predictive and speculative as it relates to events and circumstances which are yet to occur. The Company undertakes no obligation to update these forward looking statements.

This information is provided by RNS

The company news service from the London Stock Exchange

END

AGMZMGMLKRKGZZM

AEA Technology (LSE:AAT)
Historical Stock Chart
From Nov 2024 to Dec 2024