Offer Update
21 Février 2008 - 8:01AM
UK Regulatory
RNS Number:4372O
Bede PLC
21 February 2008
Bede plc (the "Company")
Update on offer discussion and financing position
Further to the announcement made on 13 July 2007 stating that the Company was in
preliminary discussions with certain parties, the Company announces that it has
now received an indicative offer, which may or may not result in a formal offer
being made for the entire issued and to be issued share capital of the Company,
or alternatively, for its business, assets and liabilities. However, this
indicative offer is significantly below the current market value of Bede plc.
The Board has granted access to due diligence for the potential offeror and will
update the market in due course as appropriate.
The Company's current net debt position is �1.1 million and the Board
anticipates that its borrowings will continue within current overdraft facility
limits until the end of the current quarter. However, current business levels
indicate that further finance will be required beyond the current quarter.
Therefore, the Board continues to explore all of the financing options available
to it in the short and medium term.
Enquiries:
Bede
Hugh Rudden (Chief Executive Officer)
David Hall (Finance Director) 0191 332 4700
21 February 2008
This information is provided by RNS
The company news service from the London Stock Exchange
END
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