Response to shareholder letter (1317X)
February 09 2012 - 8:15AM
UK Regulatory
TIDMAPI
RNS Number : 1317X
API Group PLC
09 February 2012
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART
IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS IN THAT JURISDICTION
API Group plc
Response to shareholder letter
For immediate release
9 February 2012
The Board of API Group plc ("API" or the "Company") confirms
that it has received a letter from Steel Partners Holdings L.P.
("Steel"), which owns 32.4% of API's issued share capital and has a
representative on the Board, suggesting that the Company is put up
for sale. The Board notes the announcement released by Steel this
morning via PR Newswire and today's resulting share price
movement.
Steel indicated to the Board some months ago that it was
considering a possible offer for the Company but, despite ongoing
discussions, has not subsequently clarified its intentions. The
statement from Steel that it is not their current intention to
continue those discussions is noted.
No other approaches or indicative offers for the Company have
been received and the Board is not currently engaged in any sale
process. However, the Board takes the views of all its shareholders
extremely seriously and will give due consideration to the proposal
from Steel and keep shareholders informed of any significant
developments.
API Group plc Tel: +44 (0) 1625 650334
Andrew Turner, Group Chief Executive
Chris Smith, Group Finance Director
Altium - Financial Adviser Tel: +44 (0) 845 505 4343
Paul Lines
Simon Lord
Cairn Financial Advisers LLP - NOMAD Tel: +44 (0) 20 7148 7900
Tony Rawlinson
Avi Robinson
Numis - Corporate Broking Tel: +44 (0) 20 7260 1000
James Serjeant
This information is provided by RNS
The company news service from the London Stock Exchange
END
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