TIDMAPI 
 
For release 30 March 2012 
 
                                 API Group plc 
 
         Pre Close Trading Update and Response to Shareholders' Letters 
 
 
 
Pre Close Trading Update 
 
The  Board of  API Group  plc (the  "Group" or  the "Company")  today issues the 
following  update on  trading for  the financial  year ending 31 March 2012 (the 
"Period"), before entering the close period ahead of the Company's final results 
announcement expected on or around 30 May 2012. 
 
The  Board anticipates that full year trading  results for the Period will be in 
line  with  management's  expectations,  with  sales  14% ahead  of last year at 
approximately  GBP114m. 
 
The  Group's net debt position  is predicted to close  the year favourably, with 
net debt below the  GBP8.5m reported at 31 March 2011. 
 
The Laminates, Holographics and Foils Americas business units have all performed 
well  and delivered  year-on-year growth  in profits.   At Foils  Europe, weaker 
volumes offset the impact of margin recovery due to lower raw material costs. 
 
The Group's operations are carrying good momentum into the new financial year in 
terms of order book and pipeline of new sales opportunities. 
 
In  Laminates,  the  installation  of  new  production  capacity  to support the 
previously  announced five  year supply  agreement with  a major  consumer goods 
customer  is well  advanced and  the project  is on  track to  commence supplies 
during the first quarter of the new financial year. 
 
Response to Shareholders' Letters 
 
On  the 8th and 9th February 2012, the Board  received open letters from its two 
largest  shareholders, Steel Partners  Holding L.P. and  Wynnefield Capital Inc, 
suggesting  that an  auction process  be commenced  with the  aim of  securing a 
general offer for the Company's shares (the "Proposal"). 
 
The  Board  has  given  careful  consideration  to the Proposal, taken financial 
advice  and  consulted  with  its  major shareholders.  Consistent with previous 
announcements,   the   Board   expects  significant  incremental  volume  growth 
associated with the Laminates investment referred to  above.  Barring unforeseen 
developments,  the Board  has concluded  that it  would be  in the  interests of 
shareholders  to explore  a sale  process during  the third  quarter of calendar 
2012 when  the benefits  of that  project are  more visible  and will update the 
market on the formal commencement of any such process. 
 
In  the event that the  situation changes and any  announcement is required, the 
Company will notify the market without delay. 
 
 
 
API Group plc                                                Tel: +44 (0) 
1625 650334 
Andrew Turner, Group Chief Executive 
Chris Smith, Group Finance Director 
 
Numis Securities - Broker                            Tel: +44 (0) 20 7260 1000 
James Serjeant 
 
Cairn Financial - Nominated Adviser            Tel: +44 (0) 20 7148 7900 
Tony Rawlinson 
Avi  Robinson 
 
 
 
 
 
This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
 
Source: API Group PLC via Thomson Reuters ONE 
[HUG#1598528]
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