RNS 0.00% 14.6¢ renaissance corporation limited

Ann: GENERAL: RNS: Renaissance intention to devel

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    • Release Date: 27/11/12 15:54
    • Summary: GENERAL: RNS: Renaissance intention to develop strategic alternatives
    • Price Sensitive: No
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    RNS
    27/11/2012 13:54
    GENERAL
    
    REL: 1354 HRS Renaissance Corporation Limited
    
    GENERAL: RNS: Renaissance intention to develop strategic alternatives
    
    Renaissance releases intention to develop strategic alternatives
    
    The directors of Renaissance Corporation believe that the current share price
    of the company is substantially below the value of its component divisions.
    As a result, the company is vulnerable to a takeover offer, which may not
    adequately recognise the value inherent in the business.  Various parties
    interested in acquiring the remaining operating divisions have also
    approached the company, although no formal offers have been received to date.
    
    The directors have therefore appointed Grant Samuel & Associates to assist in
    developing strategic alternatives.  The process is likely to take three
    months and directors do not intend to make any announcements as to progress
    until we have made a decision on a future direction which best reflects
    shareholder value.
    
    For and on behalf of the board
    Colin Giffney
    Chairman
    27 November 2012
    End CA:00230278 For:RNS    Type:GENERAL    Time:2012-11-27 13:54:08
    				
 
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