Litho Supplies PLC - Chairman's AGM Statement

RNS No 7129b
LITHO SUPPLIES PLC
5 May 1999
 
                                      
                   EXTRACTS FROM CHAIRMAN'S AGM STATEMENT
                                      
At today's Annual General Meeting of Litho Supplies plc, the Group's Chairman
John Byford made the following comments:
 
"Trading  is  not so different from that which I commented on in  the  Annual
Report  and  preliminary results statement in early March.  Trading  in  some
areas  of  the  Group  is down, in some areas flat, and there  are  signs  of
improvement  in  others.  I am optimistic that the year will improve  in  the
third  and fourth quarters, reflecting benefits from the 'Millennium effect'.
We are obtaining year on year sales growth, supported by recent acquisitions.
 
"Much  has  been achieved at Litho due to the perseverance and doggedness  of
management  in  often  trying conditions.  I commend  their  efforts  and  am
grateful for their loyalty.
 
"In mid-March the Company announced that it had received an approach from the
executive  directors and myself which may or may not lead to an  offer  being
made for the Group.  Not surprisingly, the price jumped from 110p to 145p and
is  currently around 145p.  I have nothing to add to this position, save that
the  directors  who made the approach had no intention of  being  hostile  or
adversarial.   Given  the  Stock Market's continued undervaluing  of  smaller
companies,  the  directors'  approach was made  with  the  interests  of  the
Company,  its  shareholders and employee shareholders in mind.  That  remains
their position."
 
 
 
Enquiries:
 
John Byford, Chairman
Litho Supplies plc           Tel: [phone]
 
Tim Spratt, Director
Financial Dynamics           Tel: [phone]
 
END 


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