REG - Safestyle UK PLC - Process Update

Safestyle UKAnnouncement

26/10/2023 07:00

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RNS Number : 3278R  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                             via FTI Consulting

 Rob Neale, Chief Executive Officer

 Phil Joyner, Chief Financial Officer

 Zeus (Nominated Adviser & Joint Broker)      Tel: 0203 829 5000

 Dan Bate / James Edis (Investment Banking)

 Dominic King (Corporate Broking)

 Liberum Capital Limited (Joint Broker)       Tel: 0203 100 2100

 Jamie Richards / William King

 FTI Consulting (Financial PR)                Tel: 0203 727 1000

 Alex Beagley / Sam Macpherson / Amy Goldup

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 (http://www.safestyleukplc.co.uk) or
www.safestyle-windows.co.uk (http://www.safestyle-windows.co.uk) .

 

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