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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Erinaceous | LSE:ERG | London | Ordinary Share | GB0033838276 | 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% | 1.65 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:6730L Erinaceous Group PLC 14 January 2008 Erinaceous Group Plc ("Erinaceous" or "the Group") Re Strategic Review The Board of Erinaceous has noted the growing speculation regarding the Group's insurance division, Erinaceous Insurance Services ("EIS"). As previously announced, and as part of its ongoing strategic review, the Board is looking at the optimal way to reduce the Group's unsustainable debt levels. EIS is a highly profitable business and enjoys strong and leading positions in attractive niche markets. The newly appointed senior management team within EIS can see significant opportunities for developing the business which is largely insulated from the issues facing the parent. However, following a significant number of approaches from parties interested in acquiring EIS, the Board has decided to review whether a sale of EIS at this time would be in the best interests of the Group. It should be stressed that this is a preliminary review of third-party interest in EIS and, as such, is part of the overall strategic review process during which all other alternatives, such as a possible debt for equity conversion, are still being actively investigated. The Board still believes that, regardless of any solution, it is probable that existing shareholders will see the value of their holdings significantly diluted. Further announcements will be made as appropriate. 14 January 2008 Enquiries: College Hill +44 (0)20 7457 2020 Mark Garraway Anthony Parker This information is provided by RNS The company news service from the London Stock Exchange END MSCEAKFLFLEPEEE
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