Information  X 
Enter a valid email address
  Print      Mail a friend       More announcements

Monday 18 February, 2002

Shami Ahmed

Offer Update

Shami Ahmed
18 February 2002

Approach to Moss Bros Group PLC ('Moss Bros')



Mr Shami Ahmed has noted the public announcement made yesterday, Sunday 17
February 2002, by the board of Moss Bros.

Mr Ahmed confirms that an approach has been made on his behalf to the board of
Moss Bros. The board was informed that Mr Ahmed has debt and equity finance in
place (subject to normal conditions, including due diligence) to offer at least
40 pence per ordinary share in cash for the entire issued share capital of Moss
Bros. This compares to a share price of 31.75 pence on 6 December 2001, the day
before Mr Ahmed announced that he was interested in acquiring Moss Bros, and a
share price of 25 pence in late November 2001, prior to recent takeover
speculation.

Mr Ahmed said: 'The reaction of the board of Moss Bros to our approach is very
disappointing. The company's recent trading history has been lamentable. It has
been littered with strategy and management changes, profit warnings and
increasing losses. I believe a cash offer for the company would be in the best
interests of shareholders. Given the uncertainty surrounding the company, it is
inevitable that any bidder would require a certain amount of due diligence,
particularly given the absence of any trading update in January.'

Mr Ahmed will seek further meetings with the board of Moss Bros and its major
shareholders in the near future regarding a possible offer for the Company

Enquiries:

Buchanan Communications (Tel: 020 7466 5000)
Richard Darby
Mobile 07970 799176




                      This information is provided by RNS
            The company news service from the London Stock Exchange


                                                                        

a d v e r t i s e m e n t