Esporta PLC
31 May 2002
Esporta plc
Response to Offer by Duke Street Capital Leisure Investments Limited ('Duke
Street')
The Board of Esporta has noted the announcement this morning of a nil-premium
offer by Duke Street for Esporta at 80 pence per share.
The Board of Esporta is firmly of the view that this offer materially
undervalues the company and its prospects. This view is underpinned by the
significant and sustained improvement in the company's trading performance since
the implementation of the new Chief Executive's plan.
Detailed reasons for the Board recommending that shareholders should reject the
offer will be sent to shareholders after Duke Street's formal offer document has
been issued. In the meantime, shareholders are strongly advised to take no
action.
ENQUIRIES:
Maurice Kelly, Chief Executive Esporta plc 0118 912 3503
Michael Ball, Finance Director Esporta plc 0118 912 3504
Nicholas Shott Lazard 020 7588 2721
Jean-Eudes Renier Lazard
William Cullum Brunswick 020 7404 5959
The directors of Esporta plc ('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 Capital Leisure Investments Limited
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.
END
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