Kingfisher Leisure has told shareholders that it was "unlikely" Springwood would bid for the company.

Kingfisher announced last month it had received an approach concerning a potential offer from Springwood but no offer was forthcoming. Springwood retains a 26.75% stake in the company.

The latest development was included in a circular that also advised shareholders to vote for the sale of its Redhill property to Luminar Dancing on May 4.