CHA Concha

TIDMCHA

RNS Number : 4058J

Concha plc

17 December 2015

17 December 2015

Concha PLC

("Concha" or the "Company")

Termination of investment discussions

As previously announced, the Company had been engaged in negotiations regarding a specific global opportunity within its investment scope. Whilst the Board appreciates that significant time has elapsed since it first announced that it had engaged in these discussions, the Board has been keen to monitor its development further before formalising a possible investment commitment.

During the course of this week, following further discussions with the target investee company, the Board met to discuss the status and complexity of the proposed transaction as well as the likely timescale for the completion of any transaction. In the light of those conversations the Concha Board and the board of the target investee company have agreed that it is in both parties' interests to terminate discussions immediately. Whilst the Board are disappointed not to have been able to successfully complete this investment, the Board is confident that this decision is in the best interests of shareholders.

Whilst it is true that the Board has recently been focussing on the specific opportunity mentioned above, the Board has, and will continue to, assess a number of other potential investment opportunities in line with the Company's investment policy.

The Board is clearly aware of the recent volatility in the Company's share price and the Board notes that the Company's market capitalisation remains significantly higher than its net asset position.

The Company will release its final results for the year ended 30 June 2015 on 22 December 2015.

Enquiries:

 
 Concha PLC                                    Chris.akers@srgplc.com 
 Chris Akers, Executive Chairman 
 
 SPARK Advisory Partners Limited (Nominated 
  Advisor)                                     +44 (0) 203 368 3550 
 Sean Wyndham-Quin / Mark Brady 
 
 

Buchanan (Financial PR) +44 (0) 207 466 5000

Mark Edwards

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCDMMMZLNVGKZG

(END) Dow Jones Newswires

December 17, 2015 04:48 ET (09:48 GMT)

Concha (LSE:CHA)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024

Concha (LSE:CHA)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024