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RAPAPORT... Luxury jeweler Theo Fennell notified shareholders that it had entered ''very preliminary talks'' with EME Capital LLP, which may or may not lead to an offer being made for the entire issued share capital of the company.
Theo Fennell stated that an ''offer period'' has now commenced in respect to the company and in accordance with the London Rule 2.7 of the City Code on Takeovers and Mergers.
EME Capital must either announce a firm intention to make an offer for the jeweler or announce that it does not intend to make an offer by no later than 5 p.m. on October 3, 2012. 
Theo Fennell reported that its fiscal-year sales fell 0.8 percent to $20 million (GBP 12.4 million) for the period that ended on March 31. Its net loss grew to nearly $3 million (GBP 1.7 million) from about $800,000 (GBP 547,379) one year earlier.
In July, the retailer reported that same-store sales had increased 3 percent during the first 12 weeks of this current fiscal year, as well as that it had launched a new standalone store in Burlington Arcade, and it was focusing on international growth with plans to open with wholesale partners in Harvey Nichols in Kuwait and at the Emporium department store in Baku, Azerbaijan.
Shares in Theo Fennell closed today in London at 15 pence, up nearly 28 percent from yesterday's closing price.
EME Capital is a financial advisory firm with offices in London, Paris and Dubai and it specializes in providing high growth businesses with strategic, commercial and corporate finance advice and the sourcing and structuring of capital for direct private equity transactions.
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