Since that date, JJB and its advisers have held discussions with a number of selected parties who have now submitted their final offers. Based on the final offers received and as previously foreshadowed in the announcements on 30 August 2012 and 13 September 2012, no value will be attributable to the Company's ordinary shares.
The offers received include offers to acquire certain of or substantially all of the trade, assets and brands of the Group. However, the Board notes that it does not have and does not now expect to receive an offer for the shares of JJB. Accordingly, the Takeover Panel has confirmed that the Company is now out of an offer period.
The Board has determined that any sale of the trade, assets and brands will be effected through an administration process. Therefore it is expected that the process to commence the appointment of administrators of the Company and certain of its subsidiaries will begin although the actual appointments are only likely to take effect just before the completion of any such sale.
The Group will therefore continue to trade through all retail outlets outside of an administration pending completion of a sale process. It is proposed that Brian Green, David Costley-Wood and Richard Fleming, partners of KPMG LLP, will be appointed as the administrators of the Company and certain of its subsidiaries. The Company's ordinary shares have been suspended from trading on the London Stock Exchange's AIM market with immediate effect.
The Company currently hopes to be in a position to announce a sale of the trade, assets and brands of the Group within the next few days.
JJB Sports Plc
Apparel/Garments | On 28th May 2017
Over 45 per cent retailers in the US plan to utilise artificial...
Textiles | On 27th May 2017
The Fabric of Change initiative of Ashoka and the C&A Foundation is...
Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd
Productivity, creativity and innovation play a vital role in the growth of ...
Peak to Plateau
People are willing to pay for quality and performance
Very few machinery manufacturers have R&D units
Biovation II LLC
Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...
Coating at a fibre level is a practice not usually seen in the...
About one in every 20 patients picks up an infection while hospitalised....
Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...
Silvia Venturini Fendi
"Yes, my confidence and positive attitude are my strengths and should be...
Gildan Activewear SRL
Gildan Activewear, a manufacturer and marketer of branded clothing and...
Apparel/Garments | On 26th May 2017