14 May 2009

Cagney plc

 ('Cagney' or the 'Company')

Offer talks terminated

On 11 February 2009 Cagney announced that it had received a preliminary approach regarding a possible offer for the Company, whilst stressing that the approach and the resulting discussions were at an early stage and that there could be no certainty that an offer would be made for the Company. 

Cagney now announces that those discussions have ended amicably, with both parties agreeing that in the present economic conditions their energies would be better directed towards consolidating their present business and ensuring financial robustness in the face of the continuing recession.  

In its recent preliminary announcement the Company was pleased to announce a profitable first quarter of 2009 and cautious optimism about the remainder of the year.  

ENDS

Enquiries:

Cagney Plc                                   Tel: 020 7637 4198

Steve Mattey, Chief Executive

Patrick Oram, Chief Financial Officer

Smith & Williamson                             Tel: 0117 376 2213

Nick Reeve

David Abbott