Response to media speculation

Safestyle UK PLC

10 October 2023

 

10^th 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")

Response to media speculation

Safestyle UK plc (AIM: SFE.), the leading UK focused retailer and manufacturer of PVCu replacement windows and doors for the homeowner market, notes latest press coverage and provides an update on the status of the ongoing work outlined following its previous update on 3 October 2023.

The Board confirms that it has engaged Interpath Advisory to assist with the process that the Group is continuing to explore, 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"). 

The Board can also update the market that the Process underway has resulted in a number of different parties declaring their interest at this time and the Board and its advisors will continue to engage with these parties in the coming days.

As also outlined in the most recent update on 3 October 2023, the Board continues to engage with the Group's bank, which remains supportive whilst re-iterating that maintaining its ongoing support is still expected to be inter-conditional on achieving a positive outcome from this process.

A further announcement 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.

 

END