Offer Talks Terminated

    RNS Number : 6017Z
  Supporta PLC
  22 July 2008
   

    Supporta PLC 

    22 July 2008

    Offer talks terminated

    The Board of Supporta PLC ("Supporta" or the "Company") notes the announcement by Romac Investments Limited ("Romac") this morning that
it does not currently intend to make an offer for the issued and to be issued share capital of Supporta.

    The Board of Supporta wishes to clarify for shareholders' information that since the rejection of Romac's conditional indicative
proposal on the 5th of June, which the Board unanimously felt materially undervalued the business and operations of the Company and which in
the Board's opinion required clarification as to the financing of any offer, there have been no formal discussions with Romac regarding any
revised proposal. Furthermore, no due diligence process involving the Company was commenced during this period.

    The Board also wishes to announce that trading in the first quarter of the financial year has been in line with management expectations.
Trading within Supporta Professional Services has stabilised. Supporta Care continues to perform strongly. The Group is also benefiting from
increased flexibility from new banking facilities agreed with its bankers, Barclays.  

    Further announcements will be made as appropriate.


    For further information, please contact:
      
    Supporta PLC 
    John Jasper, Chief Executive            01926 516600

    Brewin Dolphin Investment Banking
    Matt Davis/Sean Wyndham-Quin        0845 270 8600

    ENDS

This information is provided by RNS
The company news service from the London Stock Exchange
 
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