Brief: Saietta Decides To Conduct Formal Review Of Strategic Options Available To Co

Saietta

23/02/2024 14:18

Feb 23 (Reuters) - Saietta Group PLC  SED.L :
    * STRATEGIC REVIEW AND FORMAL SALE PROCESS
    * DECIDED TO CONDUCT FORMAL REVIEW OF STRATEGIC OPTIONS
AVAILABLE
TO CO
    * ONE OF OPTIONS THAT WILL BE CONSIDERED IN STRATEGIC REVIEW
IS A
POTENTIAL SALE OF GROUP BY WAY OF A "FORMAL SALE PROCESS"
    * WILL CONTINUE TO LOOK AT ALL FINANCING AND OTHER STRATEGIC
OPTIONS AVAILABLE AND HAS A NUMBER OF DISCUSSIONS ONGOING
    * BOARD HAS APPOINTED ERNST AND YOUNG LLP TO UNDERTAKE
STRATEGIC
REVIEW AND FORMAL SALE PROCESS
    * GROUP IS IN DISCUSSIONS WITH A POTENTIAL OFFEROR WHICH ARE
AT A
RELATIVELY EARLY STAGE
    * CO MAY NEED TO COMMENCE PLANNING FOR AN ADMINISTRATION
    * IF NO MATERIAL PROGRESS MADE WITH SALE PROCESS/FINANCING
INITIATIVES BY END OF NEXT WEEK, MAY COMMENCE PLANNING FOR
ADMINISTRATION

Source text for Eikon:  ID:nRSW3188Ea 
Further company coverage:  SED.L 

 ((Reuters.Briefs@thomsonreuters.com;))