Process Update

Safestyle UK PLC

26 October 2023

 

26 October 2023

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018.  Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

Safestyle UK plc

("Safestyle" or the "Company" and together with its subsidiaries, the "Group")

Process Update

Safestyle UK plc (AIM: SFE.), the leading UK focused retailer and manufacturer of PVCu replacement windows and doors for the homeowner market, provides an update on the process it outlined in its announcement on 10 October 2023 (the "Announcement").

In the Announcement, the Company confirmed that it was in a process which may include a capital injection or new financing, a potential sale of the shares in the subsidiaries and/or a sale of the business and assets of the subsidiaries (the "Process").

Based on discussions to date, the Company does not expect to be in receipt of a capital injection or new financing into Safestyle.

However, the Directors are in active discussions with a shortlist of interested parties as part of the Process.  These discussions focus on a sale of some or all of the Group's business and assets (a "Proposed Sale").  The Company is working with these parties towards concluding these discussions as quickly as possible.

There can be no guarantee that these negotiations will result in the completion of a Proposed Sale, and, even if a Proposed Sale does complete, there can also be no certainty on the timings or level of return, if any, to shareholders.

Further announcements will be made as and when appropriate.

For further information:

Safestyle UK plc Rob Neale, Chief Executive Officer Phil Joyner, Chief Financial Officer	via FTI Consulting
Zeus (Nominated Adviser & Joint Broker) Dan Bate / James Edis (Investment Banking) Dominic King (Corporate Broking)	Tel: [phone]
Liberum Capital Limited (Joint Broker) Jamie Richards / William King	Tel: [phone]
FTI Consulting (Financial PR) Alex Beagley / Sam Macpherson / Amy Goldup	Tel: [phone]

About Safestyle UK plc

The Group is the leading retailer and manufacturer of PVCu replacement windows and doors to the UK homeowner market.  For more information please visit www.safestyleukplc.co.uk or www.safestyle-windows.co.uk.

 

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