Strategic review of NAPCo

RNS Number : 5270E

M. P. Evans Group PLC

13 May 2013

 



M.P. Evans Group PLC

("MP Evans" or "Group")

Strategic review of NAPCo

The board confirms that the controlling shareholder of The North Australian Pastoral Company Pty Limited ("NAPCo") has appointed Gresham Advisory Partners to assist it in considering its strategic options in relation to its shareholding in NAPCo. As part of this strategic review, third parties are being approached to gauge interest in acquiring a controlling interest in NAPCo. MP Evans, NAPCo's second largest shareholder, will sell its shares in NAPCo if an acceptable proposal for a change of control was to result from such a process. Taken together, the controlling shareholder and MP Evans own more than 95% of NAPCo shares.

There is no certainty that a transaction in respect of the shares in NAPCo will result from the strategic review process and the Group will update the market in due course.

13 May 2013

Enquiries:

M.P. Evans Group PLC	Telephone: [phone]
P E Hadsley-Chaplin - chairman
P A Fletcher - managing director
T R J Price - finance director
Peel Hunt LLP	Telephone: [phone]
Dan Webster
Matthew Armitt
Hudson Sandler	Telephone: [phone]
Charlie Jack
Katie Matthews

 

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