Update re administration


 

TIDMCFE 
 
RNS Number : 0460W 
Coffee Republic PLC 
21 July 2009 
 
 
 
 
 
Coffee Republic Plc 
("Coffee Republic" or the "Company") 
 
 
 
 
Update on Administration 
 
 
 
 
 
 
Further to the announcement of 13 July, the administrators of Coffee Republic 
and its subsidiaries have granted a period of exclusivity to the preferred 
purchaser of all or parts of the business. The terms of the exclusivity 
agreement and the identity of the potential purchaser are confidential. 
Commenting on this development, Joint Administrator Richard Hill of KPMG LLP 
said: "As expected, the huge volume of enquiries from interested parties 
produced a very healthy level of offers. We have spent the last few days 
clarifying the terms of the most attractive offers and we have now identified 
our preferred purchaser. We have agreed a period of exclusivity to allow that 
party to carry out some limited due diligence which should enable us to agree 
the terms of the sale of the residual business as a going concern during the 
course of next week." 
All parties who submitted offers are being informed of the situation but no 
further information will be released until after the expiry of the exclusivity 
period. 
 
 
A further update will be made in due course. 
 
 
 
 
For further information: 
 
 
Coffee Republic: 
 
 
James Muirhead, Finance Director               020 7033 0639 
 
 
 
 
KPMG Press Office 
 
 
Rachael Halliday                                     0117 905 4373 
 
 
 
 
FinnCap, Nomad 
 
 
Charles Cunningham020 7600 1658 
 
 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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