TEN
27/10/2015 09:05
GENERAL
NOT PRICE SENSITIVE
REL: 0905 HRS Tenon Limited
GENERAL: TEN: Tenon Review Update - Sales Process to be Investigated
TENON STRATEGIC REVIEW UPDATE - SALES PROCESS TO BE INVESTIGATED
27 October 2015 - Tenon announced today that the Strategic Review of its
business currently being undertaken in conjunction with Deutsche Craigs and
Deutsche Bank ("Deutsche Bank") was proceeding to plan. Luke Moriarty,
Tenon's Chairman, said that the underlying goal of the Review was to come up
with the risk-adjusted path most likely to close the current share price
value-gap, and thereby achieve better value recognition for all shareholders.
"Since announcing the Strategic Review process we have received 'in-bound'
interest in Tenon from third parties. We now need to investigate that
further, in order to determine whether a sales path provides the best
risk-adjusted value outcome for shareholders. Accordingly we have asked
Deutsche Bank to proceed with just such a process. We will update
shareholders as we progress, however any further comment from the Company is
not anticipated prior to our ASM in December" he said.
ENDS
End CA:00272312 For:TEN Type:GENERAL Time:2015-10-27 09:05:19
