|LPA Group Plc (the ‘Company’)|
31 October 2006
LPA Group Plc (the ‘Company’)
Tender Offer Document
The Board of LPA Group Plc note that John East and Partners acting on behalf Andrew Perloff have made a tender offer for up to 3,095,968 shares, or 28.39% of the issued share capital of the Group, at 25p per share.
Shareholders should be aware that in the interim statement published on 22 June 2006 the unaudited balance sheet as at 31st March 2006 showed Equity Shareholders’ Funds per share of 55.2p.
The Board of LPA Group Plc will not be accepting the tender offer in respect of their shareholdings which amount to 1,169,540 shares, or 10.73% of the issued share capital, and recommend that shareholderstake no action.
The Board will write to shareholders in the next few days to explain why they have rejected this tender offer in respect of their own holdings of shares in the Group and why shareholders should also not accept this tender offer.