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
For and on behalf of the board
27 November 2012
End CA:00230278 For:RNS Type:GENERAL Time:2012-11-27 13:54:08