The Board of Directors announced on 28th July 2006, an update on the possible sale by Courts PLC (in Administration) of its controlling interest in Courts (Jamaica) Limited.
“Negotiations with the preferred bidder regarding the sale of the Courts Caribbean businesses including Courts (Jamaica) Limited are continuing, however the transaction is subject to financing and signing of mutually agreeable legal documentation.
The outcome of these discussions and negotiations with the Administrators and the providers of finance and the possible timetable for completion remain uncertain and could be protracted.
The Board of Courts (Jamaica) Limited is preparing to respond on a timely basis to any offer for the company which may be made. Stockholders will be kept informed of relevant developments as they becom known to the Board.
The Board has been informed at the date of this release that negotiations are continuing.”
