In the prospectus sent to Shareholders on 12 September 2006, the Directors
indicated that they were exploring the possibility of the Company acquiring part
of the Vista group (Zinkinvent's principal subsidiary) whilst retaining its 33%
holding in Zinkinvent.
Progress continues and, in exchange for a period of exclusivity up to 31
December 2006 which has been granted to Hill & Smith to finalise the purchase of
Vista's US operations, the shareholders in Zinkinvent have agreed to extend the
key elements of the Umbrella Agreement by six months to 31 December 2007. The
Umbrella Agreement governs the terms of Hill & Smith's investment in Zinkinvent
and its relationship with the other shareholders in Zinkinvent. Completion of a
transaction remains subject to due diligence satisfactory to the Board of Hill &
Smith.
A further announcement will be made in due course.
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