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Promethean PLC (PTH)

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Monday 01 July, 2013

Promethean PLC

Agreement re JLSL Option

RNS Number : 3256I
Promethean PLC
01 July 2013
 

1 July 2013

 

Promethean plc

 

Further to the announcement of 9 May 2013, Promethean plc (the "Company") announces that it entered into an agreement with January Loan Services Limited ("JLSL") and JLSL's management by which the Company exercised in full its option to acquire shares in JLSL for £125,000 and sold  such shares to JLSL for £375,000 (before professional fees).

 

Recognising the de minimis scale of the transaction and the impracticality of ensuring that all shareholders could benefit from the exercise of the option, the Board decided that accepting JLSL's offer was the most appropriate solution.

 

The Board hope to be in a position to provide further information on the TIS negotiations in the near future. 

 

Further enquiries:

 

Sir Peter Burt

Promethean PLC

+44 (0) 207 246 2590

 

Stuart Gledhill

S. P. Angel Corporate Finance LLP

+44 (0)20 3463 2260

 

Other corporate information can be found at: http://www.prometheanplc.com


This information is provided by RNS
The company news service from the London Stock Exchange
 
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