Offer Update

RNS Number : 3945N

Worthington Group PLC

15 May 2015

 



Worthington Group plc ("the Company" or "Worthington")

15^th May 2015

FOR IMMEDIATE RELEASE

Update in relation to possible offer

We refer to recent speculation as to the identity of the potential offeror in relation to the possible offer for the company referred to in our announcement dated 15^th April 2015.  We confirm that Worthington Group Plc is in discussions with Greenland Mining Management Limited, the sole shareholder and director of which is Paul Michael Patrick Newman, which is proposing to invest in a rescue refinancing of NunaMinerals A/S, a Company quoted on the Copenhagen Stock Exchange, with a view to that company subsequently making an offer for Worthington Group Plc shares.

In accordance with rule 2.6(a) of the Takeover Code, within 28 days of today's date (12^th  June 2015) either an announcement of a firm intention to make an offer in accordance with rule 2.7 or an announcement in accordance with rule 2.8 must be made.

About Worthington Group Plc ("Worthington")

 Worthington (Stock Exchange LSE: WRN) is a British investment company that  celebrates its 61st anniversary as a London Stock Exchange main market listed company this year. The Company has four areas of investment focus: property, litigation claims, new economy and emerging markets. The Company believes that exceptional shareholder returns can be achieved by utilising its main market Sterling paper to acquire investments in these sectors worldwide.

Note: Forward-looking statements contained in this announcement, including Worthington's strategy and plans, as well as expectations for future revenue and earnings, reflect Worthington's   current views and assumptions with respect to future events and are subject to certain risks, uncertainties and assumptions. There are many factors that may cause actual results achieved to differ materially from expectations for future results and expectations that may be expressed in or form an assumption of such forward-looking statements. Such factors include risks related to the day to day business of Worthington, client volatility, sales fluctuations, the general economic climate, political and environment and  other risks,  cancellations,  software failures and interruption to service to customers due to technical problems, acquisition delays  and failure as well as other uncertainties related to the results of Worthington including risks of delays or closure of projects, price falls, currency fluctuations and changes in contract terms, legislation and administrative practices, as well as competition risk and other unforeseen factors. If one or more of such risks or factors of uncertainty were to materialise, or should one or more of the statements provided prove to be incorrect, actual developments may differ materially from the forward-looking statements contained in this announcement.

Enquiries:

Media information                                                           Tel: [phone]

or email: [e-mail]

 PD Cosec - Company Secretary                                        Tel: [phone]

Website: www.worthingtongroupplc.com

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