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18 January 2010

Recent Press speculation concerning the Members Voluntary Liquidation

 

In the light of recent press coverage concerning the ownership of Jessops, the UK's leading independent high street photographic chain, the Board of Jessops plc would like to make it clear that Jessops plc no longer owns The Jessop Group Limited, which owns and trades the 213 high street shops and www.jessops.com.  

 

As set out in the announcement dated 28 September 2009, The Jessop Group Limited was sold to Snap Equity Limited, a private company, on that date. Since that date it has traded as an independent business with no relationship with Jessops plc. 

 

The proposed Members' Voluntary Liquidation of Jessops plc will, therefore, have no effect whatsoever on the trading of The Jessop Group Limited and its 213 high street shops, which will continue to trade independently of Jessops plc. 

 

Shareholders of Jessops plc are reminded that the final date for acceptance of proxy forms to vote on the proposed Members' Voluntary Liquidation ("MVL") is 10am on Tuesday 19th January. 

 

The Board of Jessops plc would like to re-iterate its advice that voting in favour of the proposed MVL, as the Directors are doing in respect to their own shareholdings, is in the best interests of shareholders as a whole as it will result in the receipt of 9.7p per 100 shares owned. If shareholders do not vote in favour of the proposal there is no guarantee that they will receive anything at all.  

 

Whether or not shareholders vote in favour of the proposed MVL, The Jessop Group Limited will continue to operate as an independently owned business.

For Further information please contact

Jessops plc         Tel:  0116 232 6000

David Adams, Executive Chairman  

Brunswick           Tel:  020 7404 5959

Jonathan Glass

David Litterick

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