PANTHER SECURITIES PLC

Management Reports • Jul 29, 2014

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PANTHER SECURITIES PLC - Update on Wimbledon Studios

PR Newswire

London, July 28

                        Panther Securities PLC                            ("Panther" or "Group")                                                                   29 July 2014                          Update on Wimbledon StudiosAs previously announced in our interim management statement for the periodended 30 September 2013 and within our further announcement on 25 March 2014,Wimbledon Television and Film Studios, whose trading business is 25% owned byPanther, has been seeking finance or new investors to upgrade some of its stagesets and film studios. The Panther Board confirms that such further investmentwas outside of the remit of the Group.Due to the envisaged sizeable investment an outside party would be required tomake, Panther had previously stated it might be prepared to sell its investmentto assist the trading business finding the desired investment.The management of the trading business undertook a full exercise to locate thisinterest.However, separately, Panther's announcement that stated it would be prepared tosell the freehold that the trading business operates from, has crystallisedother, non-studio related property investor/ developer interest in this clearlydesirable area.Of the previous announced interest Panther stated it had two further offers inrelation to purchasing the freehold property and also potential interest forutilising the buildings for alternative use.The interest in the property had narrowed to two interested parties.The Panther Board was surprised to hear yesterday that Piers Read, ManagingDirector of Wimbledon Studios (the trading business), resigned statingdisagreement with Panther on the future direction of the business. The PantherBoard also notes that Mr Read has publicly released partial information on aproposal, which he was working on, to assist himself in carrying out amanagement buyout of the Studio business. The Panther Board wishes to advisethat Mr Read's proposal was received at a very late stage of the process whentalks with the other parties mentioned above were at an advanced stage.Furthermore, the management led proposal also required a long exclusivityperiod, minimal due diligence had been conducted by the funders of the proposalat the time of the proposal and the proposal was subject to further significantfunds being raised from third parties. Accordingly, Panther is not pursuingdiscussions with Mr Read at this stage.A further announcement will be made in due course.For further information contact:Panther Securities PLC 01707 667 300Andrew Perloff - ChairmanSimon Peters - Finance DirectorSanlam Securities UK Limited (Nomad and Joint Broker) 020 7628 2200David Worlidge/ Virginia Bull