TIDMSTU

RNS Number : 9014D

Studio Retail Group PLC

02 November 2020

2 November 2020

Studio Retail Group plc

Proposed Disposal of Findel Education

Further to the announcement on 16 October 2020 by the CMA of its Provisional Findings into the potential sale of Findel Education to YPO, the parties do not believe that there is a reasonable prospect of the transaction being cleared despite the dynamism and highly competitive nature of the market, and the benefits arising from the proposed transaction for schools and nurseries. The transaction will not now proceed to completion. In light of this, the Board will be assessing all options with a view to maximising value for its stakeholders and will provide an update on next steps at the interim results on the 8(th) December.

Phil Maudsley, Group CEO commented:

" Whilst we are naturally extremely disappointed with the CMA's interpretation of this highly competitive market, Findel Education continues to have a sound digital-first strategy to deliver profitable growth over the medium term. I would like to thank the teams at Findel Education and YPO for their hard work over the last year."

Enquiries

Studio Retail Group plc

Phil Maudsley, Group CEO

Paul Kendrick MD Studio Retail Ltd and CEO Designate

Stuart Caldwell, Group CFO

0161 303 3465

Tulchan Communications

Will Smith

020 7353 4200

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

FURFSESMEESSEIF

(END) Dow Jones Newswires

November 02, 2020 02:00 ET (07:00 GMT)

Findel (LSE:FDL)
Gráfica de Acción Histórica
De Feb 2024 a Mar 2024 Haga Click aquí para más Gráficas Findel.
Findel (LSE:FDL)
Gráfica de Acción Histórica
De Mar 2023 a Mar 2024 Haga Click aquí para más Gráficas Findel.