Chairman's Comments re Market Update

RNS Number : 4453U

Guinness Peat Group PLC

02 December 2013

 



GUINNESS PEAT GROUP PLC

("GPG" or the "Company")

Market Update 2 December 2013: Chairman's comments

The GPG Board is deeply concerned that despite the enormous cost and management effort which the regulatory intervention is imposing on both GPG and Coats, we are still not close to a conclusion of these matters. It is and will remain a principle of the GPG transition process that there be fair and compliant settlement of pension issues. The regulatory intervention is hindering rather than assisting such settlement.

The Board continues to actively seek resolution and assures shareholders that every avenue to achieve the transition in the best interests of shareholders and the ongoing business of Coats is being pursued.

Chris Healy
Company Secretary
Guinness Peat Group plc

2 December 2013

Enquiry details are:

New Zealand and Australian media:     Geoff Senescall on:                             [phone]

UK media:                                             Kevin Smith on:                             [phone]

 

END

 

 

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