Response to Duke Street

Esporta PLC 12 July 2002 ESPORTA PLC ('ESPORTA') RESPONSE TO DUKE STREET CAPITAL LEISURE INVESTMENTS LIMITED ('DUKE STREET') ANNOUNCEMENT The Board of Esporta notes the mandatory cash offer of 87.5 pence per share announced earlier today by Duke Street (the 'Mandatory Cash Offer') and the announcement by Duke Street earlier today that this offer had been declared wholly unconditional. The Mandatory Cash Offer represents a 9 per cent. increase over their original offer. The Board believes this Mandatory Cash Offer continues to undervalue Esporta, which has seen a significant improvement under new management. However, as the Mandatory Cash Offer has now been declared wholly unconditional, in the event that the Esporta shares are de-listed, Shareholders who do not accept the Mandatory Cash Offer would own shares in an unlisted company controlled by Duke Street. In these circumstances, the Board, which has been so advised by Lazard, recommends that Shareholders accept Duke Street's Mandatory Cash Offer, as they will be doing in respect of their own shareholdings. In providing advice to the Board, Lazard has taken into account the Directors' commercial assessments. ENQUIRIES: ESPORTA Maurice Kelly, Chief Executive 0118 912 3503 Michael Ball, Finance Director 0118 912 3504 LAZARD (Financial Adviser to Esporta) Nicholas Shott 020 7588 2721 Jean-Eudes Renier CAZENOVE (Broker to Esporta) Michael Wentworth-Stanley 020 7588 2828 Roger Lambert BRUNSWICK William Cullum 020 7404 5959 The Directors of Esporta accept responsibility for the information contained in this announcement, save that the only responsibility accepted by the Directors of Esporta in respect of the information contained in this document relating to Duke Street which has been compiled from published sources, is to ensure that such information has been correctly and fairly reproduced and presented. Subject as aforesaid, to the best knowledge and belief of the Directors of Esporta (having taken all reasonable care to ensure that such is the case), the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information. Lazard Brothers & Co., Limited ('Lazard') is acting for Esporta and no one else in connection with the Offer by Duke Street and will not be responsible to anyone other than Esporta for providing the protections afforded to clients of Lazard nor for providing advice in relation to this matter. Cazenove & Co Ltd ('Cazenove') is acting for Esporta and no one else in connection with the Offer by Duke Street and will not be responsible to anyone other than Esporta for providing the protections afforded to clients of Cazenove nor for providing advice in relation to this matter. Words and expressions defined in the document posted to Esporta Shareholders on 14 June 2002 have the same meaning where used in this announcement unless the context otherwise requires. This information is provided by RNS The company news service from the London Stock Exchange
UK 100

Latest directors dealings