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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Goldshield Grp | LSE:GSD | London | Ordinary Share | GB0002893823 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 486.25 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:5578U Goldshield Group PLC 10 April 2007 Goldshield Group plc TERMINATION OF DISCUSSIONS AND PROPOSED STRATEGIC REVIEW Further to the announcement made by Goldshield Group plc ("Goldshield" or the "Company") on 28 November 2006 that the Company was in early stages of discussions in relation to a possible management buy out of the Company, Goldshield confirms that all such discussions have ceased. During this period, the Company explored alternative strategic arrangements with a view to enhancing shareholder value. As a result of the Board's deliberations, the Company is in the process of finalising the reorganisation of Goldshield into two divisions. The Pharmaceutical division would manage all of the acquired pharmaceutical products business, while the Wellbeing division would manage the existing direct to consumer businesses in Europe and US, as well as the new Wellbeing business in India. Each division would have separate management teams, with the former division being led by Rakesh Patel, and the latter by Ajit Patel. This reorganisation is being considered with a view to a possible eventual demerger to allow each division freedom to develop and invest in their respective businesses. Each management team has been tasked by the Board to examine the detailed implementation of their respective commercial plans as independent, separately managed and publicly quoted businesses prior to any final recommendation by the Board for approval by shareholders. Whilst these reorganisation plans are at a preliminary stage and subject to various clearances, it is anticipated that a circular to shareholders seeking shareholder permission and also containing financial information for each of the businesses for the year end 31st March, 2007 would be sent to shareholders following completion of the annual financial audit. This would be sent out to shareholders shortly after the annual accounts become available, normally scheduled for the end of July. Further announcements will be made as and when appropriate. Goldshield is being advised by Panmure Gordon & Co in relation to this matter. The above plans are at a very preliminary stage and there can be no certainty that any reorganisation will eventually be completed or, if completed, in the same form as currently envisaged above. Trading Update The Board reiterates its view, published in the Interim Financial Statement on 29 November 2006 that it expects that the Company's performance in the second half will be at a similar level to the first. -ends- Date: 10 April 2007 Enquiries: Peter Brown, Independent Director, Goldshield Group plc 020 7402 6050 Ajit Patel, CEO, Goldshield Group plc 020 8588 9100 Rakesh Patel, Finance Director, Goldshield Group plc 020 8588 9100 Edward Farmer, Director, Panmure Gordon 020 7614 8384 Jonathan Gillen, City Profile 020 7448 3244 This information is provided by RNS The company news service from the London Stock Exchange END OTTILFVTSTIEIID
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