TBI PLC
25 September 2001
For immediate release 25 September 2001
Not for release, publication or distribution in or into Canada, Australia or
Japan
TBI plc ('TBI' or the 'Company')
Offer Update
The Board of TBI notes the announcement by Vinci S.A. ('Vinci') that Vinci has
lapsed its Offer for the Company (the 'Offer').
TBI did not solicit Vinci's hostile Offer and continues to believe in the
prospects of TBI's attractive portfolio of regional assets. Following a
review of the impact on current trading and prospects of the Company of the
terrorist attacks in the United States, the Board does not consider, in the
absence of unforeseen circumstances, that there will be a material adverse
effect on the Company's results for the year ending 31 March 2002.
TBI will be writing to shareholders in due course to demonstrate the
attractive portfolio of assets owned by TBI and their prospects.
Keith Brooks, Chief Executive said:
'TBI has an outstanding portfolio of regional airports, operating in a sector
of the aviation industry which is relatively unscathed following the US
events. Now that Vinci has lapsed its unsolicited Offer for TBI, we will
continue to pursue actively our strategy of generating value for our
shareholders.'
Enquiries:
TBI 020 7408 7300
Keith Brooks
Caroline Price
Dresdner Kleinwort Wasserstein 020 7623 8000
Charlie Batten
Jeremy Miller
Credit Lyonnais Securities 020 7588 4000
Simon Bennett
David Hart
ABN AMRO 020 7678 8000
Will Coleman
Buchanan Communications 020 7466 5000
Charles Ryland
Nicola Cronk
The Board accepts responsibility for the information contained in this
announcement. To the best of the knowledge and belief of the Board (which has
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.
Dresdner Kleinwort Wasserstein Limited ('Dresdner Kleinwort Wasserstein') and
Credit Lyonnais Securities, which are regulated by The Securities and Futures
Authority Limited in the United Kingdom, are acting for TBI and no one else in
connection with this matter and will not be responsible to anyone other than
TBI for providing the protections afforded to customers of Dresdner Kleinwort
Wasserstein or Credit Lyonnais Securities nor for providing advice in relation
to this matter.
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Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
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