PLM Plasmon

    RNS Number : 5260E
  Plasmon PLC
  29 September 2008
   

    Plasmon Plc
    Update
    On 5 September 2008, Plasmon announced that it had continued its marketing exercise with a view to securing additional debt or equity
capital and that it had not received commitments from potential investors that the Directors considered immediately necessary to fund the
business and its ongoing working capital requirements.

    The Company also confirmed that it had received an approach from a US-based technology private equity firm at an investment value of
some $25 million and at a net price payable to shareholders of not more than 0.25 pence in cash per share, and confirmed that it was in
preliminary discussions which may or may not lead to an offer for the entire issued and to be issued share capital of the Company.  The
investment value included a significant injection of new funds to enable a major restructuring to be completed. Given the absence of other
financing options, and given the Company's financial position, the Board concluded that such a sale was the best viable option for the
Company.

    The Company now confirms that these discussions have terminated. In the circumstances, Plasmon has requested, and the FSA has confirmed,
an immediate suspension of the listing of the ordinary shares of the Company on the Official List of the FSA.


    A further announcement will be made when appropriate.

    Enquiries:

    Plasmon Plc                  
    Steven FX Murphy: Chief Executive      01763 261 466
    Timothy Arthur: Finance Director        01763 261 466

    Citigate 
Dewe Rogerson / Martin Jackson         020 7638 9571
    / Ged Brumby 


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