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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Ebtm | LSE:EBTM | London | Ordinary Share | GB00B0BHCS10 | ORD 0.5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.09 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number : 1466L EBTM PLC 06 January 2009 EBTM plc ("EBTM" or "the Company") Trading Update EBTM plc the AIM quoted, vertically integrated online retailer and wholesaler of music inspired fashion, today announces a trading update for the Christmas period 2008. As reported on 7th November 2008, based on significant improvements in the webstore, the product offering and marketing materials, the directors had believed that the online business was well positioned to deliver accelerated growth. However, the general economic environment has adversely impacted on EBTM's sales and gross margins during the key Christmas trading period. Whilst conversion levels on the webstore have been strong and ahead of previous periods, traffic and average transaction values have been down and overall, trading in the online retail division has been below management expectations with net sales in December down 33% year-on-year. As previously announced, trading in the wholesale division remains challenging and is unpredictable for the remainder of the financial year. As a result, despite the previously announced restructuring of the cost base, the board believes that the financial performance of the company for the financial year to April 2009 will be materially below current market expectations. The disappointing sales in the key Christmas period, together with the ongoing challenging conditions in the wholesale division, have consequently had an impact on the limited financial resources of the company. The Board is therefore evaluating strategic options which may include a disposal of part, or all, of the group. As such, the Company considers that it is in an offer period as defined under the City Code on Takeovers and Mergers. However, there can be no assurance that an offer will be received or that any disposals will be concluded in which case the company may need to seek alternative short term funding options. A further announcement will be made in due course. END EBTM plc 020 7819 1950 Richard Breeden, Chief Executive Blue Oar Securities 020 7448 4400 Andrew Raca/Jerry Keen Biddicks 020 7448 1000 Zo?iddick Additional Information The Directors of EBTM accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of the Directors of EBTM who have taken all reasonable care to ensure that this is the case, such information is in accordance with the facts and does not omit anything likely to affect the import of such information. This announcement does not constitute an offer or invitation to purchase or subscribe for any securities. Dealing Disclosure Requirements Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the "Code"), if any person is, or becomes, "interested" (directly or indirectly) in 1 per cent. or more of any class of "relevant securities" of EBTM, all "dealings" in any "relevant securities" of that company (including by means of an option in respect of, or a derivative referenced to, any such "relevant securities") must be publicly disclosed by no later than 3.30 pm (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period" otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an "interest" in "relevant securities" of EBTM, they will be deemed to be a single person for the purpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant securities" of EBTM by EBTM and by any of its respective "associates", must be disclosed by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction. A disclosure table, giving details of the companies in whose "relevant securities" "dealings" should be disclosed, and the number of such securities in issue, can be found on the Takeover Panel's website at www.thetakeoverpanel.org.uk. "Interests in securities" arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an "interest" by virtue of the ownership or control of securities, or by virtue of any option in respect of, or long derivative referenced to, securities. Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether or not you are required to disclose a "dealing" under Rule 8, you should consult the Panel. Rule 2.10 Requirement In accordance with Rule 2.10 of the City Code on Takeovers and Mergers, EBTM confirms that it currently has in issue 354,097,744 ordinary shares of 0.5p each. The International Securities Identification Number for the ordinary shares is GB00B0BHCS10. This information is provided by RNS The company news service from the London Stock Exchange END TSTFELLBKFBZBBV
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