Promethean : 11 November 2014 – Update in relation to investment in TIS

11 November 2014
Promethean PLC
("Promethean" or the "Company")
Update in relation to investment in TIS
Further to the publication yesterday of the circular and notice of Extraordinary General Meeting outlining the terms of a proposed members' voluntary liquidation and proposed cancellation of admission to trading on AIM (the "Circular"), the Company has received notification that the possible third party offer to acquire the Company's stake in T.I.S Holdings Ltd (TIS") referred to in the Circular has subsequently been withdrawn.
As outlined in the Circular the Company intends to proceed with the proposed members' voluntary liquidation and proposed cancellation of admission to trading on AIM with any residual holding in TIS being distributed in specie to shareholders.
Unless defined herein, capitalised terms used in this announcement shall have the meaning attributed to them in the Circular.
Enquiries:
Promethean PLC [phone]
Sir Peter Burt
S. P. Angel Corporate Finance LLP: [phone]
Stuart Gledhill
Jeff Keating