Esporta PLC
2 July 2002
ESPORTA PLC ('ESPORTA')
RESPONSE TO DUKE STREET CAPITAL LEISURE INVESTMENTS LIMITED ('DUKE STREET')
ANNOUNCEMENT
The Board of Esporta has noted the announcement made by Duke Street this
morning. In response, John Grieves, Chairman of Esporta, said:
'It is quite clear to us that our shareholders are not impressed by Duke
Street's Offer. Their Offer and their arguments are focused on the past. This
nil premium Offer materially undervalues the business, which has shown
significantly improved performance under its new management.
With the problems of the past being firmly dealt with, we are now focusing on
growth. Next week we shall be writing to our shareholders, setting out our
strategy which we believe will maximise the Company's prospects.'
ENQUIRIES:
ESPORTA
Maurice Kelly, Chief Executive 0118 912 3503
Michael Ball, Finance Director 0118 912 3504
LAZARD (Financial Adviser to Esporta)
Nicholas Shott 020 7588 2721
Jean-Eudes Renier
CAZENOVE (Broker to Esporta)
Michael Wentworth-Stanley 020 7588 2828
Roger Lambert
BRUNSWICK
William Cullum 020 7404 5959
The Directors of Esporta accept responsibility for the information contained in
this announcement and, to the best of their knowledge and belief (having taken
all reasonable care to ensure that such is the case), the information contained
in this announcement is in accordance with the facts and does not omit anything
likely to affect the import of such information.
Lazard Brothers & Co., Limited ('Lazard') is acting for Esporta and no one else
in connection with the Offer by Duke Street and will not be responsible to
anyone other than Esporta for providing the protections afforded to clients of
Lazard nor for providing advice in relation to this matter.
Cazenove & Co Ltd ('Cazenove') is acting for Esporta and no one else in
connection with the Offer by Duke Street and will not be responsible to anyone
other than Esporta for providing the protections afforded to clients of Cazenove
nor for providing advice in relation to this matter.
Words and expressions defined in the document posted to Esporta Shareholders on
14 June 2002 have the same meaning where used in this announcement unless the
context otherwise requires.
This information is provided by RNS
The company news service from the London Stock Exchange
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