Johnston Group PLC
11 August 2004
Not for release, publication, or distribution in or into the United States,
Canada, Japan or Australia
11 August 2004
Johnston Group PLC ('Johnston' or the 'Company')
Receipt of Offer Document from Ennstone plc ('Ennstone')
Announcements from North Atlantic Value LLP ('NAV') and Ennstone
The independent directors of the Board of Johnston (the 'Independent Directors')
have now received the Offer Document relating to the offer for Johnston (the
'Offer') and note the recent announcements made by NAV and Ennstone.
The Independent Directors are giving the Offer, and the implications of the
announcements by NAV and Ennstone, due and proper consideration with their
advisors and are also investigating other possible options to maximise value for
Johnston shareholders within the timeframe of the Offer.
As required, the Independent Directors will circulate their views on the Offer
in due course. In the meantime, shareholders are advised to take no action.
Johnston Chris Woodwark 020 7920 3150
Close Brothers Andrew Cunningham 020 7655 3100
Tavistock Communications Justin Griffiths 020 7920 3150
The Independent Directors accept responsibility for the information contained in
this announcement. To the best of the knowledge and belief of the Independent
Directors (who have 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.
Close Brothers Corporate Finance Limited ('Close Brothers'), which is regulated
in the United Kingdom for the conduct of investment business by the Financial
Services Authority, is acting for Johnston as financial adviser (within the
meaning of the Rules of the Financial Services Authority) in connection with the
matters described herein and no-one else and will not be responsible to anyone
other than Johnston for providing the protections afforded to customers of Close
Brothers, nor for providing advice in relation to the matters described herein.
This information is provided by RNS
The company news service from the London Stock Exchange