Update on Sale Processes

Update on Sale Processes

Calibre Group Limited ("Calibre") provided an update today on the sales process it has been conducting in respect of each of its businesses, Professional Services (PS), Diona and G&S Engineering.

As announced on 15 March 2018, Calibre granted an eight week period of exclusivity to a consortium bidding for the PS and Diona businesses.  That exclusivity period expired on 10 May 2018.  Negotiations with the consortium are continuing.  

The Company has also been in discussions with a number of bidders in relation to the G&S Business who have been conducting due diligence in relation to the business.  Negotiations with those bidders are also continuing.

Now that the exclusivity period has ended in relation to the PS and Diona businesses, the amendments to the convertible loan notes issued in late 2017 that were described in the announcement on 15 March 2018 have come into effect, which will facilitate any sale of all or some of the businesses that occurs in the next 6 months.

The Company will provide a further update to shareholders in relation to the outcome of these negotiations and discussions as soon as possible.  

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