9 November 2010
M.P. Evans Group PLC ("the Group")
Sale of stake in Kennedy, Burkill & Company Berhad for US$3.20 million
The board is pleased to announce that the sale of the Group's 20% holding in Kennedy, Burkill & Company Berhad, a Malaysian company involved in the plantation business and property development, has been completed today. The total consideration, which has been settled in full, in cash, amounted to RM10 million (approximately US$3.20 million at the current rate of exchange). This disposal is a further step in the Group's strategy of disposing of its Malaysian plantation and other assets prior to reinvesting in Indonesian palm-oil and Australian cattle ventures.
-Ends-
Enquiries:
|
M.P. Evans Group PLC |
Telephone: 01892 516333 |
|
Philip Fletcher, Group Managing Director |
|
|
Tristan Price, Group Finance Director |
|
|
|
|
|
Panmure Gordon |
Telephone: 020 7459 3600 |
|
Edward Farmer |
|
|
Rakesh Sharma |
|
|
|
|
|
Hudson Sandler |
Telephone: 020 7796 4133 |
|
Charlie Jack Katie Matthews |
|