Completion of Solvent Restructuring

 

TIDMJSP 
 
RNS Number : 8852Z 
Jessops plc 
29 September 2009 
 

Jessops plc 
29 September 2009 
 
 
 
 
JESSOPS PLC 
 
 
ANNOUNCEMENT OF COMPLETION OF SOLVENT RESTRUCTURING 
 
 
 
 
Jessops Plc - Completion of solvent restructuring 
 
 
Further to the announcement in respect of the proposed solvent restructuring of 
the Jessops group of companies (the "Group") (the "Proposal"), the board of 
directors of Jessops plc (the "Board") confirms that the Proposal has completed. 
The Proposal involved the sale of the Group's main operating company, The Jessop 
Group Limited, and certain other subsidiaries of Jessops Plc to a newly formed 
special purpose vehicle, Snap Equity Limited (the "Disposal"). 
 
 
It is the intention of the Board to put Jessops Plc into solvent liquidation 
before the end of this year.  The Proposal allows for the sum of GBP100,000 to 
be distributed to shareholders of Jessops Plc on such liquidation, but there 
will be no further value available for distribution to Jessops Plc shareholders. 
 As there are currently 102.9 million shares in issue, for every 100 shares 
held, this equates to approximately 9.7 pence. 
 
 
- Ends - 
 
 
For further information please contact 
 
 
Jessops Plc 
David Adams 
Jessop House 
98 Scudamore Road 
Leicester 
LE3 1TZ 
0116 232 6000 
 
 
Brunswick Group 
Jonathan Glass / David Litterick 
020 7404 5959 
 
 
KPMG Corporate Finance 
Chris Belsham 
020 7694 8527 
 
 
 
 
Note: KPMG Corporate Finance, a division of KPMG LLP which is authorised and 
regulated by the Financial Services Authority for investment business 
activities, is acting for Jessops plc as sponsor in relation to the Disposal and 
is not acting for any other person in relation to such Disposal.  KPMG Corporate 
Finance will not be responsible to anyone other than Jessops plc for providing 
the protections afforded to its clients or for providing advice in relation to 
the contents of this announcement or any transaction or arrangement referred to 
herein. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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