Fenner PLC to contact financial authorities after malicious rumours

ERJ staff report (DS)

London -- Fenner PLC is to contact the UK-based Financial Services Authority (FSA) following anonymous telephone calls to shareholders, in which the caller suggested Fenner was about to issue bad news.

The conveyor-belt manufacturer said in a statement, "It has come to our attention that a number of shareholders have been approached by a third party purporting to be acting with Fenner's consent in a manner that is in fact unauthorised by Fenner and are making representations that are untrue. We have contacted the FSA and passed on details to them for their consideration and action."

In the light of these developments, the company said, "On 8 September 2008 Fenner issued a Pre Close Trading Statement stating that we expected to report the results for the year ending 31 August 2008 at the top end of our expectations. Nothing has subsequently changed our view." Fenner continued, "Current trading remains satisfactory. Our progress on major capital projects remains encouraging as we continue to commission our larger pieces of plant in the United States. Production of high quality belt on the new lines has commenced and we expect the commissioning process to complete in this calendar year. This will reduce costs and introduce greater flexibility into our processes. Our balance sheet and interest cover both remain strong."

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Press release from Fenner