November 14, 2017 / 4:39 PM / a month ago

BRIEF-Gocompare.com confirms it rejected 110p per share bid by ZPG‍​

Nov 14 (Reuters) - ​

* ‍CONFIRMS THAT ON 8 NOVEMBER 2017 ZPG MADE AN UNSOLICITED APPROACH REGARDING A POTENTIAL ACQUISITION OF COMPANY FOR A CONSIDERATION OF 110P PER GOCOMPARE SHARE​

* ‍PROPOSAL FOLLOWED AN INITIAL UNSOLICITED APPROACH BY ZPG ON 26 MAY 2017, WHICH ALSO VALUED GOCOMPARE AT 110P PER SHARE​

* ‍THIS WAS UNANIMOUSLY AND UNEQUIVOCALLY REJECTED BY BOARD OF GOCOMPARE WHICH BELIEVED THAT IT FUNDAMENTALLY UNDERVALUED BUSINESS AND ITS PROSPECTS​

* ‍GOCOMPARE CONFIRMS THAT, FOLLOWING DISCUSSION WITH BOARD AND ITS ADVISERS, IT UNANIMOUSLY AND UNEQUIVOCALLY REJECTED PROPOSAL RECEIVED ON 8 NOVEMBER 2017‎.​

* ‍PROPOSAL REPRESENTED: - A DISCOUNT TO CLOSING SHARE PRICE OF 110.5P AS RECENTLY AS 11 OCTOBER 2017, LESS THAN ONE MONTH PRIOR TO PROPOSAL​

* ‍BOARD IS CONFIDENT IN GOCOMPARE‘S PROSPECTS FOR FULL YEAR AND CONFIRMS IT IS TRADING IN LINE WITH BOARD‘S PRIOR EXPECTATIONS.​ Source text for Eikon: Further company coverage: (Reporting by Ben Martin)

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